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What Is SCUML Certificate?

What is SCUML Certificate?

What is SCUML Certificate?

SCUML stands for the Special Control Unit against Money Laundering, and it operates under the Economic and Financial Crimes Commission (EFCC) in Nigeria. SCUML registration is required for various entities engaged in certain designated non-financial businesses and professions (DNFBPs), as part of Nigeria’s efforts to combat money laundering and terrorist financing.

Here are the key points regarding SCUML registration in Nigeria:

  1. Entities Covered: SCUML registration is mandatory for entities classified as DNFBPs. This includes sectors such as dealers in jewelry, real estate agents, dealers in precious metals and stones, chartered accountants, lawyers, notaries, trust and company service providers, among others.
  2. Purpose: The primary aim of SCUML registration is to ensure that DNFBPs adhere to anti-money laundering (AML) and counter-terrorist financing (CTF) regulations. By registering with SCUML, these entities commit to implementing measures to prevent their services from being used for illicit financial activities.
  3. Registration Process: Entities subject to SCUML registration need to apply directly to SCUML through its designated portal or office. The registration process typically involves submitting relevant documentation, such as incorporation documents, identity documents of beneficial owners and key personnel, AML policies and procedures, and other information as required by SCUML.
  4. Compliance Obligations: Once registered, entities are expected to comply with SCUML’s guidelines and regulations, which may include customer due diligence (CDD) procedures, record-keeping requirements, reporting suspicious transactions, and implementing internal controls to mitigate money laundering and terrorist financing risks.
  5. Penalties for Non-Compliance: Failure to register with SCUML or comply with its regulations can result in penalties, including fines and sanctions. Additionally, non-compliance may damage the reputation of the entity and lead to loss of business opportunities.
  6. Ongoing Monitoring: SCUML conducts periodic reviews and assessments of registered entities to ensure continued compliance with AML/CFT regulations. Entities may be subject to on-site inspections, audits, and other monitoring activities by SCUML officials.

Overall, SCUML registration plays a crucial role in Nigeria’s efforts to combat money laundering and terrorist financing by regulating the activities of DNFBPs and promoting a culture of compliance with AML/CFT standards.

How To Get SCUML Certificate

To register for your SCUML certificate in Nigeria,Please kindly vistit SCUML website, www.scuml.org click on the tab “Register online”. Fill the
registration Form and attach the required documents listed below:
LIMITED LIABILITY COMPANIES:
Certificate of Incorporation
Memorandum and Article of Association (MEMART)
Form CAC2 and CAC7
Evidence of tax Registration
BUSINESS NAMES:
Certificate of Incorporation
Form BN-O1 (Proprietor’s Particulars)
Tax Evidence of tax Registration
Note: professional companies are to also provide professional certificates e.g.
Law firms, Accounting firms, Audit firms, etc.
NON-GOVERNMENTAL ORGANIZATION (NGOS)/NON-PROFIT ORGANIZATIONS (NPOS):
Certificate of Incorporation/Registration
Incorporation of Trustees OR CAC7
Constitution OR Memorandum & Article of Association
STATE REGISTRATIONS:
Certificate of Registration from State
Constitution
Copies of valid Identification of at least 3 executive members
INTERNATIONAL NGOs/NPOs:
Evidence of Registration with National Planning Commission (NPC)
Constitution
Organisational Profile.

All documents filled are to be attached and scanned  as provided online IN PDF format.

 

We would be glad to assist you to register your SCUML Certificate and other Statutory required documents registration.

Book a free advisory session with us today.

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