Special Control Unit Against Money Laundering (SCUML) was established by the Federal Government of Nigeria in September 2005 in line with the provisions of the Money Laundering (Prohibition) Act, 2004, which was subsequently repealed and amended to Money Laundering (Prohibition) Act 2011 (as amended).
SCUML was created as part of measures for the implementation of the Financial Action Task Force (FATF) Recommendations on Anti- Money Laundering/Combating the Financing of Terrorism (AML/CFT) in Nigeria.
The recommendations include amongst others the establishment of Legal and Institutional framework for the effective implementation of the AML/CFT measures in all Countries. This led to the enactment of the Money Laundering (Prohibition) Act, 2011 (as amended) and the Terrorism (Prevention) Act, 2011, (as amended) in Nigeria.
SCUML is statutorily under the Federal Ministry of Industry, Trade and Investment, but operationally domiciled within the Economic and Financial Crimes Commission (EFCC) as the Commission drives the operational activities of the Unit in line with Sections 6(C) and 7(2) of the EFCC Establishment Act, 2004.
FUNCTIONS OF SCUML
- Registration and certification of DNFIs in Nigeria.
- Sensitization of DNFIs in Nigeria on their compliance obligations, under the Money Laundering (Prohibition) Act 2011 (as amended) and the implementation guidelines.
- Monitoring and supervision of the activities of DNFIs as it relates to AML/CFT.
- Conducting off-site, on- site, and spot checks inspection of DNFIs.
- Taking necessary enforcement actions to ensure compliance with the AML/CFT Laws and Regulations.
- Collection of statutory reports: Cash based transaction reports (CBTRs) and Currency Transaction Reports (CTRs) for onward forwarding to the Nigeria Financial Intelligence Unit (NFIU).
- Establishment and maintenance of comprehensive database of DNFIs and their financial transactions to support tactical, operational and strategic analysis as well as policy options in combating ML/FT.
- Strategic analysis using available data to identify emerging trends and patterns in money laundering and terrorist financing.
- Provision of vital information relating to DNFIs money trails to assist criminal investigations by Law Enforcement Agencies in order to boost the fight against economic and financial crimes within the DNFIs sector in Nigeria.
- Collaboration with stakeholders to ensure compliance with AML/CFT measures within the DNFI sector in Nigeria.
Requirements for Registration of SCUML
- Certificate of Incorporation.
- Article and Memorandum of Association.
- Tax Clearance Certificate (Not Applicable to NGOs)
- Audited Financial Report
- BVN, Bank Name and Account Number
- Authorized Operational License (Not Applicable to NGOs).
- Company/Organization Profile.
- Constitution ( For NGOs Only)
- Agreement Signed between the NGO and the National Planning Commission ( For International NGOs Only)
The registration is expected to be done online via https://scuml.org/registration2/ and if the submission confirmed that all documents has been duly uploaded, The registration period is between 15 – 20 working days and the collection of original certificate is expected to be done at the respective Zonal Office as indicated during the online registration.
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