EFCC sensitizes Zamfara gold traders on anti-money laundering obligations

SCUML conducts routine assessment to reinforce compliance with money laundering laws


Gusau, Zamfara State: The Special Control Unit Against Money Laundering (SCUML), Sokoto Zonal Command of the Economic and Financial Crimes Commission (EFCC), conducted a sensitization exercise with the Zamfara Gold Buyers and Sellers Co-operative Union on Saturday, September 23, 2023. This routine industry assessment initiative aimed to remind gold merchants in the state of their reporting obligations to SCUML, registration processes, and the consequences of violating rules and regulations as outlined in the Money Laundering (Prohibition and Prevention) Act of 2022.

The Head of SCUML in the Zone, Assistant Commander of the EFCC, ACE Ahmadu Bello, emphasized that “registration and compliance with SCUML’s requirements, as stipulated in the Money Laundering (Prohibition and Prevention) Act of 2022, are non-negotiable for Designated Non-Financial Businesses and Professions (DNFBPs). SCUML is committed to ensuring that those who do not comply face appropriate sanctions.”

Bello clarified that SCUML’s objective was not punitive but rather aimed at cleansing the sector of money laundering risks. He encouraged gold traders to complete their registration and obtain SCUML certificates, a process that is free of charge, and to submit the required reports promptly.

The chairman of the Zamfara Gold Buyers and Sellers Cooperative Union, Usman Muazu Maishanu, led union members in assuring their commitment to complying with SCUML’s regulations, highlighting that registration and reporting can be done electronically. He urged members who are not yet registered to do so promptly to avoid legal repercussions.



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