EFCC urges DNFBPs to register with SCUML to combat money laundering

Abdullateef Fowewe

In a push to tackle money laundering, terrorism financing, and weapons proliferation, EFCC Executive Chairman, Ola Olukoyede has urged operators of Designated Non-Financial Businesses and Professions (DNFBPs) in Nigeria’s South-East to register immediately with the Special Control Unit Against Money Laundering (SCUML).

This was confirmed in a statement on Tuesday by the anti-graft agency.

Speaking on broadcast, Olukoyede—represented by Assistant Commander of the EFCC ACE II Promise Oluigbo, Head of the SCUML Department in the Enugu Zonal Directorate—stressed the critical role of SCUML under the Money Laundering (Prevention and Prohibition) Act 2022.

The unit handles registration, regulation, monitoring, and supervision of DNFBPs.

“DNFBPs are categories of businesses identified under Section 30 of the Money Laundering Act and include sectors such as automobile dealerships, real estate businesses, construction firms, hospitality services, supermarkets, legal practitioners, consultants, and non-profit organisations,” Oluigbo explained.

He highlighted that registration is entirely free and straightforward, with no need for third parties.

“As a regulatory body responsible for overseeing the activities of these businesses in order to curb money laundering and financing of terrorism, it’s important I say it here that the registration process is completely free.

Business owners do not need to engage any third party. All they need to do is visit the SCUML portal and complete the registration process,” he said.

Over 480,000 entities have registered nationwide thanks to electronic certification, which boosts efficiency and prevents fakes. Oluigbo warned against agents charging fees: “The EFCC frowns at any individual or group collecting money from businesses under the guise of facilitating SCUML registration. The process is seamless and free of charge.”

Olukoyede also called for ongoing compliance with Know Your Customer (KYC) procedures, customer due diligence, record-keeping, and suspicious transaction reporting.

Non-compliance risks fines, imprisonment, or sanctions.

“The objective of the SCUML framework is not to stifle businesses but to protect the financial system and ensure transparency in commercial activities. It is designed to safeguard businesses and strengthen the integrity of Nigeria’s financial system,” he added.