The Special Control Unit Against Money Laundering, SCUML, on
Thursday October 4, 2012 commenced the enforcement of compliance with the
provisions of the Money Laundering Act 2011 by Designated Non- Financial
Institutions DNFIs (hotels, real estate firms, auto dealers, audit and
accounting firms, casinos, supermarkets bureau de change, law firms, etc), with
the arrest of officials of seven companies in Abuja.
Those arrested include Mr. Austin Olefa, manager, Pent House
Properties; Alhaji Abdullahi Mohammed , chief executive officer, Abmed Motors;
Mathew Abang and Eguakum Ekenema,
manager and general manager respectively, Jorany Hotels; Ndubisi Akabogu,
accountant, Grand Product Company Limited (Grand Square); Juvita Akwari, and
Obinna Ugoma, manager and accountant respectively, Lamonde Hotels; Wole Oladapo
and Osayi Gavin, accountant and marketer
respectively, Febsons Hotels and Abiodun
Adelasu of Nawa Properties.
They were arrested at the start of a special operation
designed to compel compliance with the anti-money laundering and combating
financing of terrorism regulations by DNFIs.
Section 5 of the
Money Laundering Act 2011, requires existing businesses to submit, within three
months from the commencement of the Act, a declaration of their activities and
all record of transactions. They are equally required to file returns on
transaction within seven days from the date of the transaction in chronological
order, indicating each customers surname, forenames and address.
The Central Bank of Nigeria, CBN a few weeks ago also came
up a with circular, directing financial institutions to demand evidence of
registration with SCUML as condition for doing business with DNFIs
Angel Nworgu, Head SCUML said the arrest of the company
executives marks a turning point in the enforcement of the anti- money
laundering laws, adding that the days of impunity and non compliance by DNFIs
were over. She promised that more arrests would be made as the exercise
continues.
Meanwhile, investigations into the activities of the companies
affected in the raid continue.
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