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EFCC Warns Southeast DNFIs Against Non-Compliance


Xavier Ndanyongmong

Southeast Zonal Head of Economic and Financial Crimes Commission (EFCC), in Enugu, Thursday, charged operators of Designated Non-Financial Institutions (DNFIs) within the zone, to strictly conduct their businesses within the ambit of the law or face prosecution for any infraction of the law.

Head of the Zonal office, Obioha Okorie, made the charge in his welcome remark at a one day workshop organized by the Special Control Unit Against Money Laundering (SCUML) held at the conference hall of the Commission.

The workshop was attended by business owners, company directors, general managers and representatives from over 29 DNFIs in the zone comprising Enugu, Imo, Anambra, Abia and Ebonyi States.

Expressing joy over the high turnout of participants, Okorie said, “the position of the law is clear enough regarding Money Laundering Prohibition Act of 2011(as amended) and adherence to these laws is not optional.

“I will definitely ensure the prosecution of DNFIs, here in Enugu and the entire Southeast, who fail to adhere to the position of the law; that is a promise I must fulfill in accordance with the Money Laundering Prohibition Act because the multiplier effect of non-compliance is huge.”

Later in his address, the Head SCUML, Promise Oluigbo told participants that it is an obligation, under the Money Laundering Prohibition Act of 2011 (as amended), to sensitize people and in return they have the obligation to register their businesses, report transactions and ensure due diligence (Know Your Customer).

He went on to define money laundering, types and method of money laundering, who are DNFIs, obligations of DNFIs, designation of compliance officers, duties of compliance officers, penalties for non-compliance among other issues.

The EFCC/SCUML conference is a regular feature of the Commission in line with its sensitization and enlightenment mandate.

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