Nigeria · Nigeria SCUML
SCUML Regulations for DNFBPs
RegulationIn Force
- Issuing authority
- Special Control Unit Against Money Laundering (SCUML), under EFCC
- Effective date
- SCUML established 2005; significantly expanded under MLPPA 2022
- Scope
- Special Control Unit Against Money Laundering (SCUML), under EFCC
Key requirements
AML rules for Designated Non-Financial Businesses and Professions (DNFBPs) in Nigeria: lawyers, accountants, real estate agents, dealers in precious metals and stones, NGOs, tax consultants, hotels and casinos. These businesses must register with SCUML (Special Control Unit Against Money Laundering) at EFCC and file Currency Transaction Reports (CTRs) and Suspicious Transaction Reports (STRs). Before 2022, a lot of these sectors operated outside AML supervision. Now they're firmly inside. If you run or work in any of these businesses in Nigeria, you have AML obligations whether or not you call yourself 'a financial firm'.