Economic and Financial Crimes Commission (EFCC) has called on automobile dealers in the country to comply with regulations requiring registration and certification by the Special Control Unit Against Money Laundering (SCUML) Coordinator of SCMUL in Lagos, Pascal Samu, made the call during a sensitization programme organized for automobile dealers in the Berger/Ojodu area of Lagos on Tuesday, April 5, 2022 at the Lagos Command of the EFCC.
He said, “There is a need for you to be very wary in your businesses, so as not to run foul of the law. “The Executive Chairman of the EFCC, Abdulrasheed Bawa, is urging you to observe due diligence in your activities to avoid sanctions.”
Recall that Chairman of the EFCC, Abdulrasheed Bawa, while speaking at the ministerial briefing organized by the Presidential Communication Team at the presidential villa, Abuja recently said that the commission has discovered a new money laundering techniques by criminals, which involves purchase of cars, jewelries and real estate development, to cover the ill gotten money.
The criminals, according to the agency get funds from wide range of sources, including kidnappings, banditry, armed robbery, contract frauds and other forms of criminal activities The Trumpet gathered.
He assured that the commission is working to strengthen its Special Control Unit against Money Laundering (SCUML) in the belief that checkmating the activities of non-designated financial institutions would reduce the cases of money in the country.
According to him, “SCUML that is being managed by the EFCC as well as the ministry of trade and investment is expected to do similar thing but this time on the non-designated financial institutions. We are talking about the car dealers, the jewelry dealers and real estate etc.
“If we can checkmate the problems associated with real estate laundering of proceeds of crimes in this country will reduce.
Read Also: EU, Bayelsa to partner on security in Gulf of Guinea
“It is on that thinking that we are working on strengthening on this special control unit against money laundering.
“We are working with the two houses of the National Assembly to strengthen the legal framework of this special control unit against money laundering.”
Samu while speaking with the car dealers at Lagos, said the sensitization is to help the dealers to operate within
available laws for their own good and that of the country.
