The Special Control Unit Against Money Laundering
has charged Self- Regulatory bodies in Nigeria to prevail on their members
to comply with Money Laundering law and regulations. Bala Sanga, Director SCUML
who gave the charge Thursday, December 12, at the start of a three-day retreat
organized by the agency for heads of self regulatory bodies at the EFCC Academy,
Karu, Abuja, revealed that aggressive enforcement of compliance by Designated
Non Financial Institutions, DNFI’s will begin in January 2014.
Sanga equally informed the participants that
registration with SCUML “is compulsory for all DNFI’s; and has been made easy
with on-line registration”.
He charged all DNFI’s to equip themselves with
the new Money Laundering Act 2013 and the Designated Non-Financial Institution
Regulations 2013.
The Director equally called on all participants
to see SCUML as a friend, not a foe as the regulator is not targeting any
operator; but working to stop fraudsters from using DNFI’s for money laundering
or terrorist financing.
In an opening remark, Obot Udofia, a Deputy
Director with the Central Bank of Nigeria noted
that the monitoring of the activities of all DNFI’s has become imperative
in view of the Financial Action Task Force “FATF” recommendation 28, which
provides a basis for supervision to ensure effective surveillance of that
sector.
The retreat which aims to encourage partnership
between SCUML, the Self Regulatory bodies and the DNFI’s, has in attendance, the
Nigerian Bar Association, Institute of Chartered Accountants of Nigeria,
Nigerian Institute
of Estate Surveyors and
Valuers, Professional Car Dealers Association of Nigeria, among others.
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