Special Control Unit Against Money Laundry: SCUML Certificate Registration

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Special Control Unit Against Money Laundry: SCUML Certificate Registration – Obtaining The Special Control Unit Against Money Laundering’s (SCUML) Certificate Of Registration. Associated with this post is SCUML registration login.

Then are, SCUML certificate method of collection. registration form downloads and certificate requirements. There are also information about SCUML website; how long does it take to get SCUML certificate and who needs SCUML certificate. Here is Special Control Unit Against Money Laundry: SCUML Certificate Registration

Special Control Unit Against Money Laundering (“SCUML”)

Table of Contents

The Special Control Unit Against Money Laundering (“SCUML”) was established by the Federal Government in September 2005. This is in compliance with the provisions of the Money Laundering (Prohibition) Act 2004 which was subsequently repealed and amended to the Money Laundering (Prohibition) Act 2011(as amended). As a matter of fact, SCUML is a unit under the Economic and Financial Crimes Commission (“EFCC”).

So, the Commission drives the operative activities of the Unit in line with Sections 6(C) and 7(2) of the EFCC Establishment Act, 2004. The certificate of registration is issued in accordance with the provisions of Section 5 (1) (a) and (4) of the Money Laundering (Prohibition) Act 2011. Read more about Special Control Unit Against Money Laundry: SCUML Certificate Registration, here

THE NEED FOR SCUML

The need for corporate entities to obtain SCUML’s certificate of registration is steadily on the increase. This is majorly due to the fact that the opening and continual usage of an entity’s bank accounts partly depend on it. Associated with his certificate is the entity’s certificate of incorporation issued by the Corporate Affairs Commission (“CAC”), Tax Identification Number (“TIN”)) issued by FIRS. And the ID of the directors. Search more about Special Control Unit Against Money Laundry: SCUML Certificate Registration

Furthermore, it’s important to note that the certificate is mandatory for Designated Non-financial Institutions (DNFIs). This is in pursuant to Section 25 of the Money Laundering (Prohibition) Act 2011. In addition to be noted is that non-compliance may also lead to criminal prosecution against such an entity and its officers. However, there is no room for this because the banks will not allow you to operate such an account without a SCUML certificate. But, then, who are these Designated Non-financial Institutions (DNFIs) in Nigeria?

Special Control Unit Against Money Laundry: SCUML Certificate Registration

WHAT ARE DESIGNATED NON-FINANCIAL INSTITUTIONS (DNFIs)?

Now. get these down. Based on Section 25 of the Money Laundering (Prohibition) Act 2011, the DNFIs include the following:

Dealers in jewelry and luxury goods
Chartered Accountants
Audit Firms
Tax consultants
Clearing and settlement companies
Legal practitioners
Hotel and Hospitality
Casinos, Pool, Betting, and Lottery
Supermarkets
Such other businesses as the Federal Ministry of Trade and Investment or appropriate regulatory authorities may from time to time designate.

FURTHER DNFI – Special Control Unit Against Money Laundry: SCUML Certificate Registration

Other categories as provided for on the SCUML registration form are:

Cars and vehicles
Trust and Company Services
Construction Company
Consultants and Consulting Company
Dealers in Real Estate
Estate Surveyor & Valuers
Precious Stones & Metals
Mechanized Farming
Mortgage Brokers
Nonprofit Organizations – NGO

PROCEDURE FOR SCUML REGISTRATION

At https://www.scuml.org/, do the following.

Fill the SCUML registration form
Upload required documents.

Note also that the documents required to be uploaded depends on the type of corporate entity and the applicable DNFI category. However, it’s the object of your business especially as is contained in the Memorandum of Association and your business name object clause that determines if you are qualified for this certificate or not.

THE GENERAL DOCUMENTS REQUIRED ARE:

Notwithstanding, the general documents required include the following:

CAC incorporation documents
Tax Identification Number (TIN) which is the evidence of tax registration
Evidence of tax exemption (where applicable)
Approvals/Authorization/licenses (where applicable)
Professional certificate (where applicable)
Any other documents deemed necessary
The directors’ or the Trustees’ IDs
Directors or trustees BVN, and where bank account exist, the bank account details.

APPLICATION TIMELINE:

The estimated timeline for approval and issuance of the certificate is 21 working days. This is counted from the date of submission. And you have the option of choosing which office location to collect the certificate from.

As a matter of fact, only the director(s) of the company can go to the pre-chosen office to collect the certificate. The director will be required to undergo a sensitization period of say one hour before collecting the certificate showing a valid identification card before the certificate will be handed over to him/her. This is Special Control Unit Against Money Laundry: SCUML Certificate Registration

Special Control Unit Against Money Laundry: SCUML Certificate Registration

COMPLETEFMC. SCUML SERVICE OFFERINGS:

Completefmc.com will help you process the following SCUML certificate application related documents.

C.A.C Incorporations – for all DNFIs
SCUML application assistance for all DNFIs
Tax management – obtaining entity TIN for all DNFIs
And other business development and support services like Business Plans and other compliance certificates as PENCOM, NSITF etc.

READ ALSO: Special Control Unit Against Money Laundry: SCUML Certificate Registration

CONCLUSIONS on Special Control Unit Against Money Laundry: SCUML Certificate Registration

In conclusion, are you a corporate entity registered in Nigeria and fall under the category of DFNI, kindly note that obtaining the SCUML certificate is a mandatory obligation you must fulfill. We are well-positioned to assist you with this requirement.

Do you need help?

It’s likely you need help applying and processing the SCUML certificate. But we can help you if you wish.

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Ane

Deacon Anekperechi Nworgu, a seasoned economist who transitioned into a chartered accountant, auditor, tax practitioner, and business consultant, brings with him a wealth of industry expertise spanning over 37 years.