The Special Control Unit Against Money Laundering (SCUML) has intensified efforts to prepare stakeholders for the upcoming Financial Action Task Force (FATF) onsite evaluation through a series of engagement and sensitization activities across key sectors.
In a recent round of meetings and workshops, SCUML brought together government agencies, financial institutions, and private sector representatives to deepen their understanding of anti-money laundering (AML) and combating the financing of terrorism (CFT) regulations. The sessions aimed to enhance compliance levels and readiness for the rigorous FATF assessment, which evaluates Nigeria’s adherence to international standards.
SCUML officials emphasized the importance of robust internal controls, transparency, and timely reporting to strengthen Nigeria’s financial system against illicit activities. Participants were guided on best practices for risk management, suspicious transaction reporting, and inter-agency collaboration.
The sensitization initiative reflects SCUML’s commitment to safeguarding the country’s financial integrity and ensuring that Nigeria maintains its position on the global AML/CFT compliance map. Stakeholders were encouraged to sustain proactive engagement and continuous improvement in their operations ahead of the FATF onsite visit.
By fostering a cooperative environment, SCUML aims to enhance national efforts in combating financial crimes and protecting the economy from exploitation by criminal elements.