The Economic and Financial Crimes Commission, EFCC, has charged operators of the Designated Non-Financial Institutions, DFNIs, in Lagos to be wary of criminal elements, who are infiltrating their ranks with intent to launder slush funds.
Speaking during a sensitization programme organised by the Special Control Unit against Money Laundering, SCUML, on Thursday, June 9, 2022, at the Lagos Command of the EFCC, Pascal Samu, Coordinator, SCUML, Lagos, also charged the participants to carry out their dealings in line with the Anti-money Laundering/Counter Terrorism Financing AML/CFT Laws.
He said: “The Executive Chairman of the EFCC, Abdulrasheed Bawa, is urging you to ensure that you observe due diligence in your businesses to avoid sanctions in line with the Money Laundering (Prevention and Prohibition) Act, 2022.”
He also enjoined them to support the Commission in its sustained fight against money laundering and terrorism financing in Nigeria.
Also speaking at the sensitization, Folashade Oluwasanya, a senior Compliance Officer with SCUML, enlightened the participants on ways to report currency and cash-based transactions as well as suspicious transactions in their various businesses.
Reiterating the importance of adequate Know Your Customer, KYC, for every customer, Oluwasanya said that failure to do that could result in sanctions.
Present at the sensitization were religious bodies, non-governmental organisations, hotel owners, automobile dealers and construction firms owners.