The Benin Zonal Commander of the EFCC, Usman Muktar on Tuesday, June 21,2022, called on operators of Designated Non-Financial Institutions, DNFIs, and professions to register with the Special Control Unit against Money Laundering, SCUML.

Muktar who spoke through the Head, SCUML Benin, Boyi Ibrahim, during an enlightenment and sensitization of board members of Okoisama Trinity Toritsefe Foundation said it was important for DNFIs to register with SCUML before commencement of business or soon after. "Your organization is identified as a DNFI; therefore it is subject to monitoring, supervision and regulation against money laundering and terrorism financing by the SCUML in accordance with the provisions of the Money Laundering(Prevention and Prohibition) Act, 2022".

He said part of the consequences for non compliance could be a fine of N1million for every year of contravention, suspension of business activities or withdrawal of registration by appropriate authority. He also told board members of the foundation to choose a member who will serve as a liaison officer between their organization and SCUML.

He urged them to report suspicious transactions or donations or transfers above stipulated amount to SCUML .

Rev. Father Jonah who spoke on behalf of the Foundation commended the Commission for the enlightenment campaign. He urged the Commission to do more in the area of enlightenment campaign to achieve more success.

Media & Publicity
21 June, 2022