EFCC Charges SMEs on Compliance with SCUML Regulations

The Maiduguri Zonal Commander of the Economic and Financial Crimes Commission, EFCC, Onwukwe C. Obiora today Friday, October 15, 2021 called on Small and Medium Enterprises to comply with regulations that require registration and certification by the Special Unit Against Money Laundering, SCUML.

Obiora gave the charge through the Head, Special Unit against Money Laundering, SCUML, Ibrahim Baba Ma’aji at a two-day sensitisation programme organized by Hally’s Way Concept with the theme: “SMEs as Non Designated Financial Institutions; How to Register and Financial Activities with SCUML.”

According to the Commander, the EFCC is aware of the vulnerability of SMEs to money laundering and financing of  terrorism,  hence  the need for operators to be  wary not to be caught on the wrong side of the law.

Obiora urged owners of businesses that are required by law to register with SCUML to visit its website as registration is free.

In her remark, the Chief Officer of Hally’s Way Concept, Halima Isa Ibrahim reiterated her resolve in enlightening business entities to register with relevant agencies of government as it comes with lots of benefits.

“Funding financial institutions and some Non-Governmental Organizations to Small and Medium Entrepreneurs is not enjoyed by businesses on their inability to register their companies and obtain SCUML, CAC, Chamber of Commerce, Investment, Mines and Agriculture certificates’’, she said.

She commended the EFCC for its commitment in tackling money laundering and terrorism financing in the East and the country at large.

The programme drew participants Federal Ministry of Agriculture, Federal Inland Revenue Service, Corporate Commission, Borno State Chambers of Commerce, Investment, Mines and Agriculture, Borno State Revenue, SMEDAN,  Borno State Ministries of Women Affairs, Poverty Alleviation, and Youth and Sports, amongst others.