9/23/2023 0 Comments Scuml registration![]() Registration and certification of DNFIs in Nigeria.SCUML is statutorily under the Federal Ministry of Industry, Trade and Investment, but operationally domiciled within the Economic and Financial Crimes Commission (EFCC) as the Commission drives the operational activities of the Unit in line with Sections 6(C) and 7(2) of the EFCC Establishment Act, 2004. This led to the enactment of the Money Laundering (Prohibition) Act, 2011 (as amended) and the Terrorism (Prevention) Act, 2011, (as amended) in Nigeria. The recommendations include amongst others the establishment of Legal and Institutional framework for the effective implementation of the AML/CFT measures in all Countries. SCUML was created as part of measures for the implementation of the Financial Action Task Force (FATF) Recommendations on Anti- Money Laundering/Combating the Financing of Terrorism (AML/CFT) in Nigeria. Special Control Unit Against Money Laundering (SCUML) was established by the Federal Government of Nigeria in September 2005 in line with the provisions of the Money Laundering (Prohibition) Act, 2004, which was subsequently repealed and amended to Money Laundering (Prohibition) Act 2011 (as amended).
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