In recent developments, mounting frustrations and discontent surrounding the registration process of the Special Control Unit against Money Laundering (SCUML) have led to calls for the Nigerian government to reconsider the program and potentially scrap it altogether. Established in 2005 to combat money laundering and terrorist financing, SCUML has faced significant criticism due to the difficulties experienced by individuals in registering and obtaining the required SCUML certificate from the Economic and Financial Crimes Commission (EFCC).
The SCUML program was designed to implement the international standards set forth by the Financial Action Task Force (FATF) for Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) measures. However, the registration process has proven to be a source of frustration for many Nigerians, especially when attempting to open a corporate account in the country.
Individuals have shared their experiences of encountering numerous obstacles during the registration process, including delays, lack of communication, and unresponsiveness from SCUML officials. The online registration system, which does not offer direct assistance from EFCC officials, has added to the frustration. Despite diligent attempts to complete the registration, applicants have reported long waiting periods without any tangible progress.
One affected individual shared his ordeal, which began on March 14th, 2023, and is still pending approval. He received an email from the agency stating that his account was under review, but attempts to contact the provided mobile numbers and email addresses for monitoring purposes were futile. Subsequent visits to the Lagos State Branch and emails sent yielded no response. Even after visiting the office in person and receiving instructions to complete the registration at a cyber cafe, the applicant faced further setbacks.
With more than 23 working days having passed since the application was initiated, the certificate remains unapproved, leaving applicants in a state of uncertainty and exacerbating their frustrations. The lack of transparency and inefficiency within the SCUML registration process has prompted individuals to call for the program’s elimination or a complete overhaul.
Advocates argue that if the EFCC truly wishes to achieve its objectives, significant improvements must be made. Suggestions include employing competent officers and ensuring that applicants can obtain the required certificate without unnecessary stress and delays. Alternatively, there have been proposals to monetize the process, allowing applicants to obtain the certificate with greater ease and efficiency.
As discontent surrounding the SCUML program grows, the Nigerian government faces mounting pressure to address the frustrations and concerns of individuals hindered by the cumbersome registration process. Calls for reform or outright elimination of the SCUML program underscore the need for more accessible and streamlined mechanisms to achieve the objectives of combating money laundering and terrorist financing while alleviating the burdens faced by Nigerians in their efforts to comply with the regulations.
