As part of efforts to enforce compliance with the anti money laundering laws by Designated Non-Financial Institutions(DNFIs), the Economic and Financial Crimes Commission (EFCC) yesterday arrested four persons for alleged violation of the law.
Those arrested by the Special Control Unit Against Money Laundering (SCUML) are: Managing Director of NICON Properties, Wuse Abuja, Mr. Yahaya Atai Odoma and the company’s accountant, Mr. Rufai S. Bidu.
Two others arrested during the special operation are Mr. Obee Williams Abu and Mr. Enger Peter of Hotel de Lamitel, Kado Kuchi district, Abuja .
A statement by the commission’s spokesman, Wilson Uwujaren made available to LEADERSHIP stressed that section 5 of the Money Laundering Act, 2011 requires existing DNFIs to submit a declaration of their activities and all record financial transaction to the ministry of commerce, within three months from the commencement of the Act.
The documentation is expected to include each customer’s surname, forenames and addresses. According to the statement, Section five sub section two states that “The Ministry shall forward the information received pursuant to subsection 1 of the section to the EFCC within 7 days of its receipt”.
The DFNIs include dealers in jewelleries, cars, and luxury goods, chartered accountants, audit firms, tax consultants, clearing and settlement companies, legal practitioners, hotels, casinos, supermarkets, or such other businesses as the federal Ministry of Commerce or appropriate regulatory authorities may from time to time designate.