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Nonprofits across the country have begun to witness a trend of routine inspection by officials of the Special Control Unit against Money Laundering, SCUML and Economic Financial Crimes Commission, EFCC. These visits are part of the mandate of SCUML and EFCC to determine the compliance rate of Nigerian NPOs with the Anti-Money Laundering and Countering the Finance of Terrorism, AML/CFT regime and serve as a way for government to better keep track of the activities of NPOs. Ultimately, they help to ensure that NPOs are not vulnerable to risks of being used as conduits for Money Laundering, ML and Terrorism Financing, TF.
A routine inspection by SCUML is often heralded by an official letter stating the dates and time the visit will occur; along with a list of documents they would like to see during their visit (Below is the list). The Executive Director or whoever is the head of the organisation is expected to be available to receive them.
DOCUMENTS TO BE MADE AVAILABLE BY YOUR ORGANIZATION – NGO
Note that the team will sight the originals of the documents listed above.