Case Overview
In Nigeria, one of the most crucial parts of setting up a Designated Non-Financial Institution (DNFI) is SCUML registration.
SCUML (Special Control Unit Against Money Laundering) is a governmental body whose responsibility is to work in line with the Money Laundering Act and the Prevention of Terrorism Act, to supervise, monitor, and regulate the activities of DNFIs in Nigeria.
Statutorily, this body is under the Federal Ministry of Trade and Investment but also works under the EFCC (Economic Financial Crimes Commission). So if any DFNI fails to register with SCUML, the organization will be considered ineligible. That’s not all, there are also chances that the organization and its operating officers face criminal prosecution.
The Problem
While SCUML registration is a very important process, it doesn’t mean that it has not proven burdensome for some businesses. With its long processes and bottleneck for running a business, most people tend to run from it. But if you have a good legal counsel or lawyer to help, the processes get quite a bit easier. Even while some try to do the registration themselves, even the slightest mistake in filling out the forms can pose a problem for that business in the future. This is why you need the guidance of a lawyer or group of lawyers.
Ms. Adetele Faith is one of the many people who have been struggling to get their SCUML registration done. She made the right choice in contacting us at AGATHA Legal.
How We Dealt With the Problem
- Receiving the necessary information about our client’s business and ensuring that the right documents are provided. The kind of documents to be provided depends on the type of company.
- Helping our client with online registration.
- Guiding our client throughout the form-filling process.
- Getting our client the SCUML certificate she has been seeking in a very short while.
