1. Real Estate Developers & Agents2. Dealers in Precious Metals & Stones (e. g., gold, diamonds)3. Car Dealers (Buying/Selling Luxury Vehicles)4. Lawyers, Notaries, & Other Legal Practitioners5. Accountants, Auditors, & Tax Consultant. 6. Trust & Company Service Providers7. Hotel & Hospitality Businesses (High-Risk Transactions)8. Supermarkets & High-Value Goods Dealers9. Casinos & Gaming Companies10. NGOs, Foundations, & Charity Organizations. Frequently Asked Questions (FAQs) About SCUML in Nigeria1. What is SCUML? SCUML is a regulatory body established to enforce compliance with the Money Laundering (Prevention and Prohibition) Act. It ensures that non-financial businesses and professions adhere to anti-money laundering (AML) regulations. 2. Who needs to register with SCUML? Businesses classified as Designated Non-Financial Businesses and Professions (DNFBPs) must register. These includeReal estate agentsCar dealersLawyers and notariesAccountants and auditorsCasinos and gaming centersDealers in precious metals and stonesTrust and company service providersConsultants and freelance professionals involved in financial transactions3. How do I register with SCUML? You can register online or use the services of a professional or expert to navigate the process. 4. What documents are required for SCUML registration? Certificate of Incorporation (CAC certificate)Memorandum and Articles of AssociationTax Identification Number (TIN)Company profileMeans of identification of directors (e. g., National ID, International Passport)Utility bill for business address verification5. Is SCUML registration mandatory? Yes, it is mandatory for DNFBPs. Banks and financial institutions require a SCUML certificate before opening or maintaining business accounts for such entities. 6. How long does SCUML registration take? Processing typically takes 2 to 4 weeks, depending on document verification and approval. 7. What is the penalty for non-compliance? Failure to register or comply with SCUML regulations may result inFines or sanctions from the EFCCBusiness restrictions, including bank account closureLegal action under the Money Laundering (Prevention and Prohibition) Act8. How do I renew my SCUML certificate? SCUML certificates do not expire, but businesses must update their details periodically and comply with AML reporting obligations. 9. What is the SCUML compliance reporting requirement? Registered businesses must submit reports on suspicious transactions and cash transactions above the regulatory threshold to SCUML and the EFCC. Would you like help with SCUML registration or compliance requirements, let's be your reliable plug.