SCUML meaning

Banking

How to register for Scuml in Nigeria (SCUML meaning), certificate, fee, etc.,

SCUML meaning – If you run a business categorized under the “Designated Non-Financial Institutions (DNFIs) as stipulated in section 25 of the Money Laundering (Prohibition) Act, you will understand the concept of SCUML meaning.

However, if you do not have first-hand knowledge of SCUML, and looking to learn its meaning, or you want to open a bank account but are asked to provide your SCUML certificate, this guide forms the basic pivot that’ll aid your knowledge like no other.

In this guide, I will answer the following questions and more..;

  • SCUMLregistration
  • SCUML registration fee
  • SCUML login
  • Businesses that require SCUML registration
  • SCUML requirements
  • How long does it take to get a SCUML certificate
  • SCUML monthly report
  • What is the SCUML certificate
  • SCUML helpdesk email/contact details
  • SCUML exemption certificate, etc.

SCUML meaning

SCUML means; Special Control Unit Against Money Laundering (SCUML), it’s saddled with the responsibility of monitoring, supervising, and regulating the activities of “Designated Non-Financial Institutions (DNFIs) as approved by the Money Laundering (Prohibition) Act 2011 and Prevention of Terrorism Act.

Historically, SCUML was established by the Federal Government in September 2005 as a measure for the implementation of the Financial Action Task Force (FATF).

SCUML by operations works with the EFCC in line with sections 6(C) and 7(2) of the Anti-graft establishment Act, 2004, but statutorily under the Federal Ministry of Industry of Trade and Investment.

What are Designated Non-Financial Institutions (DNFIs)?

Section 25 of the Money Laundering (Prohibition) Act defines Designated Non-Financial Institutions (DNFIs) as businesses that deal on;

  • Jewelry
  • Cars, importers of automobiles
  • Luxury goods
  • Precious stones
  • Metals
  • Real Estate
  • Estate developers
  • Estate Surveyors and Valuers
  • Estate agents
  • Chartered accountants
  • Audit firms
  • Tax consultants
  • Clearing and settlement companies
  • Hotels
  • Casinos
  • Supermarkets
  • Dealers in mechanized farming equipment and machinery
  • Practitioners of mechanized farming
  • Non-Governmental organizations and other businesses as
  • Ministry of Trade and Investment, etc., as deemed appropriate by the regulatory authority.

SCUML requirements

You may carry out your SCUML registration online, however, pay attention to the requirements you will need to attach alongside your application.

Kindly find the below blanket requirements as they apply to SCUML.

Business names: As a business looking to register for SCUML, kindly provide the following

  • Certificate of incorporation
  • BN FORM 01/proprietor’s particulars
  • Evidence of Tax Registration (TIN)
  • Professional certificate where applicable
  • BVN, bank account details

Companies

  • Certificate of Incorporation
  • Memorandum and Article of Association (MART)
  • Form CAC 1, CAC 2, and CAC 7
  • Evidence of Tax registration (TIN)
  • BVN, bank account details

Trust/NGO

  • Certificate of Incopration
  • Incorporation of Trustees or CAC7 and CAC 2
  • Identification of Trustees with valid IDs
  • Constitution/Memorandum and article of Association
  • TIN
  • Particulars of settlors
  • Particular of the protector should there be any
  • Copy of cooperation agreement for international NGOs
  • Trust deed agreement
  • BVN, and bank details

Religious organization

  • Certificate of Incorporation
  • Incorporation of Trustees
  • Identification of Trustees with valid IDs
  • Constitution

Association/Club/Societies

  • Certificate of Incorporation
  • Copy of constitution
  • Particulars of Trustees
  • Valid means of IDs of two trustees at least
  • Tax identification number or tax exemption
  • BVN, and bank details

Note: Professional institutions like Accounting firms are required to submit additional documents like professional certificates, etc.

Businesses that require SCUML registration and certificate

If you run any of the listed businesses as a Designated Non-Financial Institution, kindly understand that you are under obligation to register for SCUML.

  • Jewelry
  • Cars
  • Luxury goods
  • Precious stones
  • Metals
  • Real Estate
  • Estate developers
  • Estate Surveyors and Valuers
  • Estate agents
  • Chartered accountants
  • Audit firms
  • Tax consultants
  • Clearing and settlement companies
  • Hotels
  • Casinos
  • Supermarkets
  • Dealers in mechanized farming equipment and machinery
  • Practitioners of mechanized farming
  • Non-Governmental organizations and other businesses as
  • Ministry of Trade and Investment, etc., as deemed appropriate by the regulatory authority.

What is a SCUML certificate?

SCUML certificate is a document issued by the Economic and Financial Crimes Commission (EFCC), as proof that a bank account is not being used for money laundering activities, however, issued after a thorough background check for such an account.

SCUML registration fee

You are not required to pay for SCUML registration. Registration can be done on the SCUML website for free.

SCUML registration

If you are looking to commence registration for your SCUML, kindly;

  • Visit the SCUML website follow the “Register online”
  • Complete the registration form as seen online
  • Attach documents as required
  • Submit your registration page for onward processing of your SCUML registration.

SCUML login

The SCUML login is only available for profiled users who have signed up for an account on SCUML. Kindly visit the SCUML platform, click on login, and enter your login details to access your account.

How long does it take to get SCUML certificate?

There’s no definite time frame allotted, however, you should expect to get your certificate within 3 to 4 four weeks after application.

SKUML helpdesk email

You may reach out to SCUML to get inquiries or issues resolved. Kindly find the below contact details for various locations nationwide.

  Location

Email address

Phone number

  Lagos

 lagos@scuml.org

08098044926

  Abuja

 info@scuml.org

08186886219 or 08183754112

  Port Harcourt

08167599894

  Kano

 kano@scuml.org

08109185147

  Gombe

 gombe@scuml.org

08036209356

  Enugu

 enugu@scuml.org

08037747447

  Edo

 benin@scuml.org

  Ibadan

 ibadan@scuml.org

08096492000

  Maiduguri

 maiduguri@scuml.org

08096495000

  Kaduna

 kaduna@scuml.org

08096493000

  Uyo

uyo@scuml.org

Conclusion

Now that you are acquainted with SCUML meaning, registering and acquiring your certificate to further go ahead and open your bank account for business or whatever purpose becomes easier.

Apply for your SCUML on the official portal, it should be ready within three to four weeks, it’s as easy as that. Good luck.

Leave a Reply

Your email address will not be published.

Follow financengr on Twitter

Subscribe via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

%d bloggers like this: