The Economic and Financial Crimes Commission, EFCC, has called on automobile dealers in the country to comply with regulations requiring registration and certification by the Special Control Unit Against Money Laundering, SCUML.
SCUML is charged with the responsibility of monitoring, supervising and regulating the activities of Designated Non-Financial Institutions, DNFIs, in line with the Money Laundering (Prohibition) Act ML(P)Act 2011 and the Prevention of Terrorism Act, PTA, 2011.
Businesses requiring SCUML certification include jewellery and car dealers; dealers in luxury goods; chartered accountants; audit firms; tax consultants; clearing and settlement companies and hotels.
The Coordinator, SCMUL, Lagos, Pascal Samu, gave the charge during a sensitization programme organised for automobile dealers in the Berger/ Ojodu area of Lagos on Tuesday, April 5, 2022 at the Lagos Command of the EFCC.
According to him, “There is a need for you to be very wary in your businesses, so as not to run afoul of the law.
“The Executive Chairman of the EFCC, Abdulrasheed Bawa, is urging you to observe due diligence in your activities to avoid sanctions”.
Mr Samu also used the opportunity to urge them to support the Commission in its sustained fight against money laundering and terrorism financing in Nigeria.
Also speaking, Folashade Oluwasanya, a Compliance Officer with SCUML, Lagos enlightened the participants on ways to report currency and cash-based transactions as well as suspicious transactions in their various businesses.
