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)Â has charged operators of Designated Non FinancialÂ Institutions (DNFI’s) to carefully monitor and run their businessesÂ asÂ prescribed by theÂ law.
The Kaduna Zonal Head of the Economic and Financial Crimes Commission, Mailafia Yakubu gave the advice while declaring open, the sensitisation workshop organisedÂ byÂ 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 ProhibitionÂ Act 2011 as Amended, even as he laid emphasis on adherence to this law which he warned, weas not optional.
He stressed: “ItÂ is the duty of all business owners to register theirÂ businesses with SCUML and to ensure they report any suspiciousÂ transaction, while making sure they adhere to the Know-Your-Customer (KYC) rule as,Â failureÂ to follow the law will be met with severe sanctions as stipulated by the law”.