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SCUML Requirements on Kuda Business

What is SCUML and why is it needed

Nosa O avatar
Written by Nosa O
Updated over 3 weeks ago

SCUML is a regulatory body in Nigeria that oversees certain non-financial businesses to prevent money laundering.

What is SCUML?

SCUML stands for the Special Control Unit against Money Laundering. It is a subsidiary of the Economic and Financial Crimes Commission (EFCC) in Nigeria. SCUML’s main role is to regulate and monitor certain types of businesses—called Designated Non-Financial Businesses and Professions (DNFBPs)—to prevent money laundering and related crimes.

Who Needs a SCUML Certificate?

Not every business in Nigeria needs a SCUML certificate. Only specific categories of businesses, known as DNFBPs, are required by law to obtain one. These are typically businesses that handle large sums of money but are not part of the traditional financial sector (like banks or capital market operators).

The following businesses are designated to require a SCUML certificate in Nigeria.

Designated Non-Financial Businesses and Professions (DNFBPs)

These are the types of businesses and service providers that must obtain a SCUML certificate:

  • Dealers in Jewelries

  • Car Dealers

  • Dealers in Luxury Goods

  • Chartered Accountants

  • Audit Firms

  • Tax Consultants

  • Clearing & Forwarding Companies

  • Legal Practitioners

  • Hotels

  • Casinos

  • Supermarkets

  • Dealers in Precious Stones and Metals

  • Law Firms & Notaries

  • Accountants and Accounting Firms

  • Trust and Company Service Providers

  • Real Estate Agents

  • Mortgage Brokers

  • Hotels and Travel Agencies

  • Consultants & Consulting Companies

  • Construction Companies

  • Importers and Dealers in Automobiles

  • Mechanized Farming Companies

  • Pool Betting and Lottery Operators

  • Dealers in High Value Goods

If your business falls into any of these categories, you are legally required to register with SCUML and comply with its regulations.

If your business is not listed among the required categories, you should seek legal advice before applying for a SCUML certificate—or if you already have one, about deregistering.

What Happens After You Get a SCUML Certificate?

Getting a SCUML certificate is just the beginning. Once you have it, your business must comply with ongoing regulatory obligations. SCUML conducts compliance examinations to ensure that businesses are following the rules. These checks can happen at any time, and failing them can result in penalties or even criminal prosecution.

How to Register for SCUML

  1. Visit the SCUML Registration Portal

  2. Review the Registration Guidelines

    • Carefully read the registration guidelines provided on the portal before proceeding.

  3. Prepare Required Documents

    • The specific documents required may vary by business type, but generally include:

      • Certificate of Incorporation (CAC)

      • Tax Identification Number (TIN)

      • Company profile

      • Details of directors and beneficial owners

      • Other relevant business documents

  4. Complete the Online Registration Form

    • Fill out the registration form with accurate business information and upload the required documents.

  5. Submit Your Application

    • After completing the form and uploading documents, submit your application online.

  6. Wait for Processing

    • SCUML will review your application and, if approved, issue your certificate. SCUML certificates are issued free of charge.

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