Do I need SCUML certificate for my business?

Spread the love

Do I need SCUML certificate for my business? Answering this question means checking out which types of businesses require SCUML certificates. So, are you a business person who wants to run a business bank operations, this post will educate you on the types of businesses that require SCUML certificates and what you need to do.

Special Control Unit against Money Laundering – SCUMIL

Table of Contents

As a matter of fact, for the SCUML certificate for my business, SCUML means Special Control Unit against Money Laundering. This certificate is issued to organizations in compliance with the provisions of the Money Laundering (Prohibition) Act, 2004 which was subsequently repealed and amended to the Money Laundering (Prohibition) Act 2011(as amended). Can you answer this question: Do I need a SCUML certificate for my business? Then read along.

Furthermore, SCUML was created as part of the 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.

Do I need SCUML certificate for my business?

How Completefmc.com helps:

Completefmc stands for Complete Full Marks Consultants Limited, an accounting, auditing, taxation, and management consulting firm in Abuja. With long years of industry experience, and for SCUML certificate for your business we offer business support services strategies to increase your business sales and revenue. Get your account audited and obtain your tax clearance certificates.

Furthermore, do you need Consultation for your business support services? At completefmc.com our consultancy services cover your business challenges in developing business ideas and planning, business incorporation, and other start-up issues like helping you process your SCUML certificate, NSITF, ITF, PENCOM and BPP certificates. Therefore, unlock and leverage the untapped potential of your business by contacting +234 8034347851 or cfmclimited@gmil.com Still asking – Do I need SCUML certificate for my business?

The Regulatory Statement:

On SCUML certificate for your business. the Regulations state that the Special Control Unit against Money Laundering (“SCUML”) of the Federal Ministry of Industry, Trade, and Investment will be responsible for the registration, monitoring, and of activities of Designated Non-Financial Institutions in Nigeria in collaboration with the Nigerian Financial Intelligence Unit (NFIU) and other relevant regulators, professional bodies and self-regulatory organizations. Read more about – Do I need SCUML certificate for my business?

And for the SCUML certificate for my business and in accordance with the Regulations, the following businesses and professions exist as Designated non- Financial Institutions for the purpose of registration, reporting, and conduct of customer due diligence:

business outfits dealing in jewelry;
car dealers;
dealers in luxury goods;
chartered accountants;
audit firms;
tax consultants;
clearing and settlement companies;
hotels;
casinos;
supermarkets;
law firms, notaries, and other independent legal practitioners;
accountants and accounting firms;
trust and company service providers;
estate surveyors and valuers;
mortgage Brokers;
non-profit organizations;
dealers in precious stones and metals;
dealers in real estate, estate developers, estate agents, and brokers;
hospitality Industry;
Consultants and Consulting Companies;
Construction Companies;
importers and dealers in cars or any other automobiles;
dealers in mechanized farming equipment and machinery;
practitioners of mechanized farming;
Pool betting;
Lottery businesses including fixed odds, pari-mutuel, sports lottery (betting), scratch card gaming, and other forms of gaming
Do I need SCUML certificate for my business? Still the question.

Do I need SCUML certificate for my business?

Now How do I get the SCUML certificate?

Visit SCUML website – www.scuml.org – click on the tab “Online Registration”. Fill the
registration Form and attach the required documents as listed below:

LIMITED LIABILITY COMPANIES:

Certificate of Incorporation
Memorandum and Article of Association (MEMART)
Form CAC2 and CAC7
Evidence of tax Registration
National ID of all the directors
The directors BVN

BUSINESS NAMES:

Certificate of Incorporation
Form BN-O1 (Proprietor’s Particulars)
Evidence of tax Registration
National ID of all the directors
The directors BVN

Note that for SCUML certificate for firms business, professionals must also provide proficiency certificates e.g. Law firms, Accounting firms, Audit firms, Engineers etc. Do I need SCUML certificate for my business?

NON-GOVERNMENTAL ORGANIZATION (NGOS)/NON-PROFIT ORGANIZATIONS (NPOS):

Certificate of Incorporation/Registration
Incorporation of Trustees OR CAC7
Constitution OR Memorandum & Article of Association
The national ID of all the Trustees
The Trustees BVN

STATE REGISTRATIONS:

Certificate of Registration from State
Constitution
Copies of valid Identification of at least 3 executive members
Do I need SCUML certificate for my business?

INTERNATIONAL NGOs/NPOs:

Evidence of Registration with National Planning Commission (NPC)
Constitution
Organizational Profile.

Finally, you have to scan and upload the required documents using a portable document folder (pdf) in a reasonable size which must not exceed 2mb or 2000kb. Check out for more on Do I need SCUML certificate for my business?

Sensitization Session:

Furthermore, on SCUML certificate for business, please note also that you must attend the one-hour sensitization season at the SCUML certificate issuing office before collecting your original certificate. And to collect the original certificate you must bring a copy of the director’s ID and CAC certificate of incorporation and sign a photo copy of the certificate stating that you have collected the original copy.

Concluding on Do I need SCUML certificate for my business?

Completefmc.com consulting team helps your company to grow with business support services and other growth support services. In addition to helping you obtain your SCUML certificate for your business SCUML we offer support for Contract Compliance Certificates for Economic Development in Nigeria. These include PENCOM, NSITF, ITF, BPP IRR. Others are C.A.C. incorporation documents, FIRS Tax clearance certificates, NEPC import export licenses and NAFDAC products registration certificates. You can contact completefmc.com on +234 8034347851 or cfcmlimited@gmail.com today for a free consultation. Are you still asking: Do I need SCUML certificate for my business?

You can bookmark this article, SCUML certificate for business SCUML for further references as we regularly update this topic. Then, you can help us share using the social media buttons on this page. If you like us, then you are sure of our updates.

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.