Certain businesses and professions are required to register with the Special Control Unit against Money Laundering (SCUML) as part of Nigeria's anti-money-laundering rules. Banks commonly ask for a SCUML certificate before opening or operating a corporate account for these businesses.
Sectors that typically need SCUML registration include real estate, car and equipment dealers, jewellers, hotels, consultants and professional firms, and non-profit organisations.
Who needs it
- · Businesses in designated non-financial sectors
- · NGOs and incorporated trustees
- · Companies whose bank has requested a SCUML certificate
What you will typically need
- · CAC registration documents for the business or organisation
- · Tax Identification Number (TIN)
- · Details and identification of directors, partners or trustees
- · The business address and a description of its activities
How DAES handles it
- 01
Eligibility
We confirm whether your business needs SCUML registration.
- 02
Documents
We gather the required documents and details.
- 03
Application
We submit the application and follow it up.
- 04
Certificate
You receive your SCUML certificate for your bank and records.
Requirements and processing times depend on your case and current regulator rules. DAES confirms exactly what applies to you before you start.
Questions
Why is my bank asking for a SCUML certificate?
Banks are required to confirm that businesses in designated sectors are registered with SCUML before operating their accounts. DAES can tell you whether your business falls in one of those sectors.
Ready to start?
Tell us what you need and we will send the requirements and next steps.