Cost of SCUML Registration in Nigeria And The Required Documents

On its official website, the EFCC claims that it ”does not charge any fees for SCUML registration nor are they required to pay any fees to obtain the certificate,” this is a false claim. It will cost you between N45,000 to NGN60,000 to get a SCUML certificate at the time of publication. The price depends on the agent that is handling the registration process for you.

SCUML registration in Nigeria was designed to be FREE, but it has now been monetized which now makes it impossible for business owners to handle the registration themselves.

Sample of SCUML certificate

Here is a sample of SCUML certificate according to Section 17(2) (a) of the Money Laundering (Prevention and Prohibition) Act, 2022 and any other Law or Regulation.

Meaning of SCUML

SCUML is an acronym for Special Control Unit against Money Laundering. It is one of the key departments of the Economic and Financial Crimes Commission (EFCC), Nigeria’s anti-graft agency.

SCUML is headed by a director who reports directly to the Chairman of EFCC.

SCUML is saddled with role of monitoring the financial activities of Designated Non-Financial Institutions (DNFIs) or Designated Non-Financial Businesses and Professions (DNFBPs) that handle cash in excess of N10,000,000 (for limited liabilities) or excess of N5,000,000 (for business name) from their customers.

Businesses that need to get SCUML Certificate

If your company or business type is capable of handling NGN10,000,000 or NGN5,000,000 or more in future, you are classified as DNFBPs by the Act establishing the anti-money laundering Act and expected to register for SCUML.

In case you didn’t know, here is a full list of businesses that are designated as DNFBPs. They are the businesses or professions that need SCUML registration in Nigeria.

• Law Firms
• Supermarket
• Audit Firms
• Tax Consultants
• Digital agencies
• Mortgage brokers
• Lottery Businesses
• Dealers In Jewelry
• Automobile dealers
• Accounting firms
• Mechanized farming
• Real estate companies
• Consulting companies
• Construction companies
• Casinos and Pool Betting
• Non-Profit Organizations
• Dealers In Luxury Goods
• Real estate dealers/brokers
• Estate Surveyors and Valuers
• Clearing and forwarding firms
• Hotels and hospitality business
• Businesses that buy and sell precious stones and metals

Procedure for SCUML Registration

At some point when the registration was free, here is how to register for the certificate by yourself without having to pass through an agent.

• Head over to SCUML registration portal at: https://portal1.scuml.net/mhatabz.php to sign up
• Fill out the registration form
• Upload required documents
• Click next to fill in other required spaces.

General requirements for SCUML registration

• Category (DNFBPs or NPO)
• CAC registration type (RN for companies; BN for Business Name; NEPZA for Nigeria Export Processing Zones Authority)
• Sector (supermarket, tax consultants, construction firm etc)
• Business objective
• Incorporate number
• Registered name
• Date of incorporation
• Tax ID (TIN)
• Office address
• State
• Bank
• Account number
• Account name
• Preferred location to pick up your certificate when it’s ready
• Company’s phone number
• Company’s email address
• Company’s director details
• National Identity Number (NIN)

Required documents for vehicle importers

• CAC certificate
• Tax Identification Number (TIN)
• BVN
• Bank Name
• Account Number
• Evidence of Registration with the Association of Motor Dealers of Nigeria (AMDON) for auto dealers

for hotel owners

• All the aforementioned documents plus…
• Evidence of registration with Hotel Owners Forum Abuja (HOFA) or Nigeria Tourism Development Corporation (NTDC) for those who are in the hotel and hospitality business.

For betting companies

• All the above documents plus…
• Obtain license from either the National Lottery Commission/ State Lotteries Board if you are in the Casinos, Pool Betting & Lottery Business.

For auditing and accounting firms

• All the above documents
• Evidence of professional certificate with ICAN or ANAN or ACCA for auditing firms.

For tax consultants

• All the above documents plus…
• Professional certificate with ICAN or ANAN or ACCA or CITN.

For Estate surveyors

• All the general requirements
• Estate surveyors and valuers need the Nigerian Institution of Estate Surveyors and Valuers (NIESVs), or Nigeria Institute of Quantity Surveyors Certificate (NIQS).

For real estate business

• All the above documents plus…
• A REDAN Certificate.

Requirements for construction companies

• Aforementioned documents plus…
• COREN Membership Certificate or Nigerian Society of Engineers Membership Certificate or relevant construction certification for those in the construction sector.

Requirements for clearing agents

• Above general requirements
• Evidence of registration with Council For The Regulation Of Freight Forwarding In Nigeria (CRFFN) for those in the clearing and forwarding business.

Requirements for law firms

• The aforementioned documents plus…
• Law firms need Legal Practicing certificates

Requirements for oil or mining companies

• The aforementioned documents
• Any company that their business objective contains Mining, oil/Gas, Export, Investment and Pharmacy will be required to have Approvals/Authorization/licenses from relevant agencies.

For instance license from Nigerian Export Promotion Council (NEPC) for exporters; Nigerian Investment Promotion Commission (NIPC) for importers of such precious stones, and Exploration License/permit from the Ministry of Solid Minerals.

NOTE: Some of the additional requirements or professional licence may be waived.

Requirements for NGOs

• Non-Profit Organizations (NPOs) need to present the Identification of Trustees with a valid means of identification
• Constitution/Memorandum & Articles of Association
• Certificate of Incorporation/Registration
• Incorporation of Trustees or CAC7 and CAC 2
• Tax Identification Number (TIN) or Tax Exemption
• Particulars of Settlors
• Trust Deed Agreement
• Copy of cooperation Agreement (For international NGOs)
• Requirements for SCUML registration for Religious Organizations
• Certificate of Incorporation/Registration
• Incorporation of Trustees
• Identification of Trustees with a valid means of identification
• Constitution
• Tax Identification Number (TIN) or Tax Exemption
• Letter of Authority from the General Overseer of the church
• Details of other activities engaged in (Charities/Humanitarian activities)
• BVN, Bank Name and Account Number

Penalties for failure to register with SCUML

There are penalties for violating Money Laundering (Prohibition) Act, 2011. Entities or individuals that violate the act may have their certificate of registration revoked and may be fined or sent to jail, depending on the gravity of the violation.

Conclusion

If your business or profession is classified as DNFBPs, you will need to register for SCUML to get registration number to open a corporate bank account or business account 

After registration, you will have to send evidence of registration to your bank for validation and activation of your bank account.