By Nkechi Eze
In a bid to enhance compliance with Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) regulations within Nigeria’s mining sector, the Special Control Unit Against Money Laundering (SCUML) has entered into a strategic collaboration with the Ogun State Ministry of Solid Minerals Development.
This was the outcome of a high-level engagement held on Tuesday, May 13, 2025, at the Federal Secretariat in Abeokuta, Ogun State. The event brought together key stakeholders, including government officials and dealers in precious metals and stones, for an interactive session focused on regulatory compliance under the Money Laundering (Prevention and Prohibition) Act, 2022.
Dele Oyewale the commission’s spokesperson in an official signed statement disclosed that the Head of SCUML Lagos, Assistant Commander of the EFCC (ACE I) Ibinabo Amachree, commended participants for their commitment and emphasized SCUML’s drive to foster greater adherence to AML/CFT standards across Designated Non-Financial Businesses and Professions (DNFBPs).
“We are committed to strengthening compliance and ensuring that operators in the mining industry are properly guided on their obligations. Registration with SCUML, conducting Customer Due Diligence (CDD), and reporting Suspicious Transactions (STRs) are not optional—they are mandatory under Nigerian law,” Amachree said.
Also speaking, ACE II Folasade Oluwasanya outlined the AML/CFT compliance framework specific to the mining sector and called on all operators to align their business practices with national and international anti-financial crime standards. She highlighted the sector’s role in Nigeria’s push to exit the Financial Action Task Force (FATF) Grey List and attract credible investment.
Representing the Ogun State Ministry of Solid Minerals Development, the Federal Mines Officer for the state, Ojediran Abimbola B, welcomed the collaboration and pledged the ministry’s support for joint initiatives to sanitize the sector.
“Compliance is key to ensuring transparency and building a secure investment climate. We are ready to work with SCUML to rid the industry of illegality while safeguarding the environment and promoting sustainable mining practices,” Ojediran said.
The engagement concluded with a collective agreement to expand public sensitization efforts and enhance joint regulatory outreach across Ogun State’s mining communities.
