EFCC Charges Designated Non Financial Institutions To Run Business As Prescribed By Law

EFCC Charges Designated Non Financial Institutions To Run Business As Prescribed By Law



EFCC

Kaduna – In its determined effort to ensure that financial institutions operate within the ambit of the law, the Kaduna Zonal Office of the Economic and Financial Crimes Commission (EFCC)  has charged operators of Designated Non Financial Institutions (DNFI’s) to carefully monitor and run their businesses as prescribed by the  law.

The Kaduna Zonal Head of the Economic and Financial Crimes Commission, Mailafia Yakubu gave the advice while declaring open, the sensitisation workshop organised by the Zonal office.

Mailafia charged them to ensure that they do their businesses within the law prescribed and play their role in curbing money laundering within the zone.

Also, Mohammed Suleiman, Head, Special Control Unit Against Money Laundering advised participants to monitor and run their businesses within the law to avoid been caught in any illegal activities. According to him, the Law is clear regarding the Money Laundering Prohibition Act 2011 as Amended, even as he laid emphasis on adherence to this law which he warned, weas not optional.

He stressed: “It is the duty of all business owners to register their businesses with SCUML and to ensure they report any suspicious transaction, while making sure they adhere to the Know-Your-Customer (KYC) rule as, failure to follow the law will be met with severe sanctions as stipulated by the law”.

 

The post EFCC Charges Designated Non Financial Institutions To Run Business As Prescribed By Law appeared first on Independent Newspapers Nigeria.



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