Requirements For Compliance With Special Control Unit Against Money Laundering (SCUML)

  • click here to get help

  • Overview

  • Special Control Unit against Money Laundering (SCUML) and Economic Financial Crimes Commission (EFCC) are the regulatory authorities for the implementation of the AML/CFT regime in respect to the Designated Non-Financial Institutions (DNFI) sector in Nigeria.

  • SCUML was established by the Federal Government in September 2005 in compliance with the provisions of the Money Laundering (Prohibition) Act, 2004 which was subsequently repealed and amended to Money Laundering (Prohibition) Act 2011(as amended).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.

  • Requirements Of The Act

  • 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 was created under the Money Laundering (Prohibition), Act, 2011 (as amended) to implement specific sections of the Act in line with the FATF recommendations for the implementation of AML/CFT measures within the Designated Non- Financial Institutions (DNFIs) Sector 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.

  • Who Needs The SCUML Certification

  • Section 25 of the ML (P) Act defines DNFIs as dealers in Jewelry, Cars and Luxury Goods, Precious Stones and Metals, Real Estate, Estate Developers, Estate Surveyors and Valuers, Estate Agents, Chartered Accountants, Audit Firms, Tax Consultants, Clearing and Settlement Companies, Hotels, Casinos, Supermarkets, Dealers in Mechanized Farming Equipment and Machineries, Practitioners of Mechanized Farming, Non-Governmental Organizations (NGOs) or such other businesses as the Federal Ministry of Trade and Investment or appropriate regulatory authorities may from time to time designate.

  • Benefits Of Compliance

  • It is a legal requirement designed to protect legitimate businesses and professions as well as their customers. The Financial Action Task Force (FATF) requires Countries to implement 40 Recommendations that are considered as international standard for combating money laundering and terrorist financing as well as the financing of the proliferation of weapons of mass destruction (WMD).

  • How To Apply For A SCUML Compliance Certificate

  • Procedure

  • Registration can be done on the SCUML website at NO COST. Visit SCUML website, click on the tab “Register online”. Fill the registration Form and attach the required documents listed below:

    1. i. Certificate of Incorporation.
    2. ii. Article and Memorandum of Association.
    3. iii. Tax Clearance Certificate (Not Applicable to NGOs).
    4. iv. Audited Financial Report.
    5. v. Authorized Operational License (Not Applicable to NGOs).
    6. vi. Company/ Organization Profile.
    7. vii. Constitution (For NGOs Only)
    8. viii. Agreement Signed between the NGO and the National Planning Commission (For International NGOs Only)

  • Processing Time

  • Applicants can also confirm if their applications are successful by checking the website or contacting the SCUML office in Abuja:
    No 5 Fomella Street,
    Off Ademola Adetokunbo Crescent,
    Wuse II,
    Tel: 08186886219 | 08183754112
    or any of the offices in Lagos, Port Harcourt, Kano, Gombe, Enugu, Maiduguri, Ibadan, Edo and Kaduna

  • Caution: Applicants are strongly advised to deal directly with the Commission in matters relating to the issuance of Certificates to avoid being defrauded by touts. Should you encounter any difficulties or are unable to process your Compliance Certificate please do not hesitate to contact any of our approved Professionals by clicking here

  • click here to get help