The Chairman of the Economic and Financial Crimes Commission, EFCC, Mr Ola Olukoyede, has called on retail car dealers in Nigeria to register with the Special Control Unit against Money Laundering (SCUML).
According to the EFCC, SCUML is a department in the commission that regulates and monitors the activities of Designated Non-Financial Businesses and Professions (DNBPs).
This was disclosed on Saturday, June 1, 2024, through the Acting Zonal Director, EFCC Kaduna Zonal Command, DCE Dr Benedict Ubi, during a meeting/inauguration of the newly elected executives by the Motor Dealers Association, Kaduna(MODAK) at Arewa House, Kaduna metropolis.
Olukoyode further cited Section 17 of the Money Laundering (Prevention and Prohibition) Act, 2022, which stipulated that car retail outlets and all DNFBPs register with SCUML.
SCUML’s registration can now be done online, and electronic certificates bearing security features can now be issued and delivered to the entities using their verified addresses,” Olukoyede added.
Olukoyede reiterated the warning about cash payments, urging members of the association to be cautious and aware of the potential risks.
He emphasised that even when the amount involved is above the approved threshold, it is important to adhere to the regulations and avoid such transactions.
Following his statement, the newly elected Chairman of MODAK, Aminu Ibrahim Dankakalo, thanked the EFCC for the enlightenment and sensitisation and promised to ensure that every member of the association would follow SCUML’s stipulations.
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