EFCC Urges DNFBPs to Align Operations with Newly Enacted Money Laundering Prohibition and Prevention Act 2022

EFCC has called on designated non-financial businesses and professions to conduct their dealings in line with the provisions of the newly enacted Money Laundering Prohibition and Prevention Act 2022

Ahmed Ghali, the Lagos Zonal Commander of the EFCC, gave the charge during the sensitization program organised by the Special Control Unit against Money Laundering (SCUML), for the implementation of the recently passed AML/CFT legislation.

According to Ghali, ”this sensitization is important because we do not want friction between the EFCC and DNFBPs, as we have seen in recent times. All that we are saying to you at this workshop is to comply with the requirements of the money laundering laws so that you will be able to transact your businesses with ease and not experience any sanctions from the EFCC.”

Ghali also availed the opportunity to urge them to cooperate with the EFCC and support the Commission in its sustained fight against terrorism financing and corruption in Nigeria.

“We want you, the non-financial business operators, to join us in sanitising the systems, eliminate any form of fraud and criminality and make sure that you are not being used as tools for money laundering,” he added.

As per the coordinator, SCUML, Lagos, Paschal Samu, said in his opening remarks that the program focused on refining the various DNFBPs such as hoteliers supermart operators, luxury product providers, casino operators, and car dealers on their roles in complying with Anti-money laundering law. He added that the EFFC must not hesitate on taking action against erring DNFBPs in line with provisions of the law.

According to EFCC Head Media and Publicity, Mr Wilson Uwujaren: Also speaking at a similar forum in Ilorin, the Zonal Commander, Michael Nzekwe, called on automobile dealers in Ilorin, the Kwara State Capital to ensure compliance with extant laws and regulations requiring registration and certification of their businesses by the Special Control Unit against Money Laundering, SCUML. 

The Commander who was addressing members of the Kwara State Motor Dealers Association led by its President, Alhaji Ahmed Dare Abdul said, “apart from enforcing compliance with SCUML regulations, the EFCC under the new Money Laundering Act, MLA, has a legal responsibility in safeguarding the investment of stakeholders in the Non-Designated Financial Institutions, NDFIs, from the activities of fraudsters.”

Providing more insights on the operations of SCUML, the Zonal Commander stated, “Under the new MLA, SCUML is now to be fully under the EFCC”. He said part of its responsibilities was “to ensure compliance of DNFBPs including but not limited to car dealers, jewellery dealers, real estate managers, hoteliers and other stakeholders with the provisions of the law”.

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