By Nkechi Eze
The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has called on operators of Designated Non-Financial Businesses and Professions (DNFBPs) in the South-East to comply with mandatory registration under the Special Control Unit Against Money Laundering.
Olukoyede made the call during a live radio programme at the Enugu State Broadcasting Service, where he highlighted the importance of SCUML certification for businesses operating within the non-financial sector.
Represented by Assistant Commander of the EFCC, Promise Oluigbo, who heads the SCUML Department in the Enugu Zonal Directorate, the EFCC chairman explained that SCUML is responsible for the registration, regulation, monitoring and supervision of DNFBPs in line with the Money Laundering (Prevention and Prohibition) Act 2022.
He identified DNFBPs as businesses captured under Section 30 of the Act, including automobile dealerships, real estate firms, construction companies, hospitality services, supermarkets, legal practitioners, consultants, and non-profit organisations.
Olukoyede stressed that the SCUML registration process is completely free, warning business owners against engaging third parties who demand payment to facilitate registration. He noted that the process can be completed directly through the SCUML portal without any intermediary.
According to him, the introduction of electronic certification has improved efficiency and eliminated the risk of fake certificates, with over 480,000 entities already registered nationwide.
He cautioned that the EFCC does not authorise any individual or group to collect fees on its behalf, adding that the Commission frowns on such practices.
The EFCC boss further urged businesses to comply with statutory requirements, including Know Your Customer (KYC) procedures, customer due diligence, proper record keeping, and reporting of suspicious transactions.
He warned that failure to comply with these requirements constitutes a violation of the law and could attract penalties, including fines, imprisonment, or other regulatory sanctions.
Olukoyede, however, assured that the objective of the SCUML framework is not to stifle businesses but to promote transparency, safeguard enterprises, and strengthen the integrity of Nigeria’s financial system.
