The FATF recommendations include amongst others the establishment of Legal and Institutional framework for the effective implementation of the AML/CFT measures in all Countries. This led to the enactment of the Money Laundering (Prohibition) Act, 2011 (as amended) and the Terrorism (Prevention) Act, 2011, (as amended) in Nigeria.
SCUML was created under the Money Laundering (Prohibition), Act, 2011 (as amended) to implement specific sections of the Act in line with the FATF recommendations for the implementation of AML/CFT measures within the Designated Non- Financial Institutions (DNFIs) Sector in Nigeria.
SCUML is statutorily under the Federal Ministry of Industry, Trade and Investment but operationally domiciled within the Economic and Financial Crimes Commission (EFCC) as the Commission drives the operational activities of the Unit in line with Sections 6(C) and 7(2) of the EFCC
Establishment Act, 2004.
SCUML Boss
Director SCUML