Frequently Asked Questions - SCUML Clients

FAQs - SCUML Clients

These are described as all such organizations registered under Part “C” of the Company and Allied Matters Act. Such Companies have one thing in common – they are non-profit.

There two legal status an NPO can assume under CAMA

  1. Incorporated Trustees
  2. Company Limited By Guarantee

An NPO can be either Domestic or International

  1. International NGO (INGO) - incorporated in another country and operating in Nigeria under an agreement made with Federal Government through National Planning Commission. They are often referred to as Development Partners or Donors etc.
  2. Domestic NGOs – incorporated or Registered in Nigeria

REGISTRATION REQUIREMENTS WITH SCUML

All domestic NGOs/NPOs

- are required to provide their full incorporation papers for registration

a)      Certificate of Incorporation

b)      Incorporation of Trustees

c)      CAC Approved Constitution

STATE REGISTERED NGOS

- are required to provide their full incorporation papers for registration

a) Registration Certificate obtained from agency

b) Constitution

c) Copies of valid identity cards of at least three (3) trustees or promoters of the organization

OBLIGATIONS ON ALL DNFIS

a)   Rendering Currency Transaction Reports (CTRs) in accordance with Section 10 of the Money Laundering (Prohibition) Act 2011 as amended / Cash Based Transaction Reports (CBTRs) required by Section 5 of ML (P) A 2011 (as amended)

a)      Suspicious Transaction Reports (STRs) may be defined as one which is unusual because of its size, volume, type or pattern or otherwise suggestive of known money laundering or terrorist financing methods. It includes such a transaction that is inconsistent with a client’s or customer’s known, legitimate business or personal activities or normal for that type of account or that lacks an obvious economic rationale. This report should be reported to the Nigeria Financial Intelligence Unit ( NFIU) www.nfiu.gov.ng

REQUIREMENT FOR CERTIFICATE COLLECTION

a)      Letter of Authorization written on a letter headed paper of the company introducing person(s) collecting the SCUML certificate on their behalf.

b)      A valid identify card ( Drivers license, International Passport , Permanent Voters Card , National Identity Card, NIMC)

 

 

The Real estate sector in Nigeria involves a plethora of professionals and non-professionals that are active players within the industry. These constitute of Estate Valuers ,Professionlas , ,construction companies,Estate Agents amongst others.

Estate Valuers: these are individuals /sectors set to direct and supervise an interest in landed properties. Valuation is usually conducted on the property to ascertian the value of the property.

Estate Agents – any person or business that is in charge of arranding the sales , renting or management of properties and buildings.

Construction Firms: These firms are into planning ,design and financing structure and getting ready for occupancy.

REGISTRATION REQUIREMENTS WITH SCUML

The above DNFIs are required to provide their full incorporation papers for registration

a)      Certificate of Incorporation/ Business Name

b)      Article of Memorandum & Association/ BN01

c)      Tax Clearance Certificate / FIRs TIN

d)     Form co7 ( Particulars of Directors)

e)      Professional Certificate

f)       Company Profile

OBLIGATIONS ON ALL DNFIS

a)   Rendering Currency Transaction Reports (CTRs) in accordance with Section 10 of the Money Laundering (Prohibition) Act 2011 as amended / Cash Based Transaction Reports (CBTRs) required by Section 5 of ML (P) A 2011 (as amended)

a)      Suspicious Transaction Reports (STRs) may be defined as one which is unusual because of its size, volume, type or pattern or otherwise suggestive of known money laundering or terrorist financing methods. It includes such a transaction that is inconsistent with a client’s or customer’s known, legitimate business or personal activities or normal for that type of account or that lacks an obvious economic rationale. This report should be reported to the Nigeria Financial Intelligence Unit ( NFIU) www.nfiu.gov.ng

REQUIREMENT FOR CERTIFICATE COLLECTION

a)      Letter of Authorization written on a letter headed paper of the company introducing person(s) collecting the SCUML certificate on their behalf.

b)      A valid identify card ( Drivers license, International Passport , Permanent Voters Card , National Identity Card, NIMC)

A car dealer is anyone who sells cars. In Nigeria this sector may be informally classified into ‘‘organized’’ and ‘‘un-organized’’ car dealers. The organized car dealers are mostly owned by well established limited liability companies which hold franchise/distributorship of major car manufacturers around the globe. The organized car dealers operate standard business practices and accounting procedure, and also have been known with imposing office edifice in high brow areas of major commercial cities in the country while on the other hand, the un-organized car dealers are mostly sole proprietorship or family owned businesses. Most of the un-organized car dealers operates from roadsides and has no permanent office premises. The un-organised car dealers dominate the market given the fact that they deal mostly on fairly used ‘tokunbo’ cars, which the majority of the Nigeria populace can afford.REGISTRATION REQUIREMENTS WITH SCUML

The above DNFIs are required to provide their full incorporation papers for registration

a)      Certificate of Incorporation/ Business Name

b)      Article of Memorandum & Association/ BN01

c)      Tax Clearance Certificate / FIRs TIN

d)     Form co7 ( Particulars of Directors)

e)      Professional Certificate

f)       Company Profile

OBLIGATIONS ON ALL DNFIS

a)   Rendering Currency Transaction Reports (CTRs) in accordance with Section 10 of the Money Laundering (Prohibition) Act 2011 as amended / Cash Based Transaction Reports (CBTRs) required by Section 5 of ML (P) A 2011 (as amended)

a)      Suspicious Transaction Reports (STRs) may be defined as one which is unusual because of its size, volume, type or pattern or otherwise suggestive of known money laundering or terrorist financing methods. It includes such a transaction that is inconsistent with a client’s or customer’s known, legitimate business or personal activities or normal for that type of account or that lacks an obvious economic rationale. This report should be reported to the Nigeria Financial Intelligence Unit ( NFIU) www.nfiu.gov.ng

REQUIREMENT FOR CERTIFICATE COLLECTION

a)      Letter of Authorization written on a letter headed paper of the company introducing person(s) collecting the SCUML certificate on their behalf.

b)      A valid identify card ( Drivers license, International Passport , Permanent Voters Card , National Identity Card, NIMC)

A Dealer in Precious Metals and stones means an individual or any entity that buys or sells precious metals, precious stones or Jewellery, in the course of its business activities. Precious Metals include gold, silver and platinum. Precious Stone include Diamond Sapphires, emeralds, tanzanite, rubies or alexandrite. Jewellery means object made of precious metals, precious stones or pearls intended for personal adornment.

REGISTRATION REQUIREMENTS WITH SCUML

The above DNFIs are required to provide their full incorporation papers for registration

a)      Certificate of Incorporation/ Business Name

b)      Article of Memorandum & Association/ BN01

c)      Tax Clearance Certificate / FIRs TIN

d)     Form co7 ( Particulars of Directors)

e)      Professional Certificate

f)       Company Profile

OBLIGATIONS ON ALL DNFIS

a)   Rendering Currency Transaction Reports (CTRs) in accordance with Section 10 of the Money Laundering (Prohibition) Act 2011 as amended / Cash Based Transaction Reports (CBTRs) required by Section 5 of ML (P) A 2011 (as amended)

a)      Suspicious Transaction Reports (STRs) may be defined as one which is unusual because of its size, volume, type or pattern or otherwise suggestive of known money laundering or terrorist financing methods. It includes such a transaction that is inconsistent with a client’s or customer’s known, legitimate business or personal activities or normal for that type of account or that lacks an obvious economic rationale. This report should be reported to the Nigeria Financial Intelligence Unit ( NFIU) www.nfiu.gov.ng

REQUIREMENT FOR CERTIFICATE COLLECTION

a)      Letter of Authorization written on a letter headed paper of the company introducing person(s) collecting the SCUML certificate on their behalf.

b)      A valid identify card ( Drivers license, International Passport , Permanent Voters Card , National Identity Card, NIMC)

 

Dealers in Mechanized Farming Equipment and Machineries are individuals or organizations involved in the importation and sells of Framing equipment and machineries.

REGISTRATION REQUIREMENTS WITH SCUML

The above DNFIs are required to provide their full incorporation papers for registration

a)      Certificate of Incorporation/ Business Name

b)      Article of Memorandum & Association/ BN01

c)      Tax Clearance Certificate / FIRs TIN

d)     Form co7 ( Particulars of Directors)

e)      Professional Certificate

f)       Company Profile

OBLIGATIONS ON ALL DNFIS

a)   Rendering Currency Transaction Reports (CTRs) in accordance with Section 10 of the Money Laundering (Prohibition) Act 2011 as amended / Cash Based Transaction Reports (CBTRs) required by Section 5 of ML (P) A 2011 (as amended)

a)      Suspicious Transaction Reports (STRs) may be defined as one which is unusual because of its size, volume, type or pattern or otherwise suggestive of known money laundering or terrorist financing methods. It includes such a transaction that is inconsistent with a client’s or customer’s known, legitimate business or personal activities or normal for that type of account or that lacks an obvious economic rationale. This report should be reported to the Nigeria Financial Intelligence Unit ( NFIU) www.nfiu.gov.ng

REQUIREMENT FOR CERTIFICATE COLLECTION

a)      Letter of Authorization written on a letter headed paper of the company introducing person(s) collecting the SCUML certificate on their behalf.

b)      A valid identify card ( Drivers license, International Passport , Permanent Voters Card , National Identity Card, NIMC)

 

Hotel is an establishment providing accommodation, meals and other services for travellers, tourist among others. An hotelier is a person who owns, oversees or manages a hotel. He / She may be the owner of the establishment , the Chairperson of the board that operates the hotel , the chief executive of a hotel or the general manger of the hotel.

REGISTRATION REQUIREMENTS WITH SCUML

The above DNFIs are required to provide their full incorporation papers for registration

a)      Certificate of Incorporation/ Business Name

b)      Article of Memorandum & Association/ BN01

c)      Tax Clearance Certificate / FIRs TIN

d)     Form co7 ( Particulars of Directors)

e)      Professional Certificate

f)       Company Profile

OBLIGATIONS ON ALL DNFIS

a)   Rendering Currency Transaction Reports (CTRs) in accordance with Section 10 of the Money Laundering (Prohibition) Act 2011 as amended / Cash Based Transaction Reports (CBTRs) required by Section 5 of ML (P) A 2011 (as amended)

a)      Suspicious Transaction Reports (STRs) may be defined as one which is unusual because of its size, volume, type or pattern or otherwise suggestive of known money laundering or terrorist financing methods. It includes such a transaction that is inconsistent with a client’s or customer’s known, legitimate business or personal activities or normal for that type of account or that lacks an obvious economic rationale. This report should be reported to the Nigeria Financial Intelligence Unit ( NFIU) www.nfiu.gov.ng

REQUIREMENT FOR CERTIFICATE COLLECTION

a)      Letter of Authorization written on a letter headed paper of the company introducing person(s) collecting the SCUML certificate on their behalf.

b)      A valid identify card ( Drivers license, International Passport , Permanent Voters Card , National Identity Card, NIMC)

 

A casino is any facility which houses and accommodates certain types of gambling activities. The industry that deals in casinos is called the gaming industry. Casinos are most commonly built near or combined with hotels, restaurants, retail shopping, cruise ships or other tourist attractions. Some casinos are also known for hosting live entertainment events such as stand-up comedy, concerts and sporting events.

REGISTRATION REQUIREMENTS WITH SCUML

The above DNFIs are required to provide their full incorporation papers for registration

a)      Certificate of Incorporation/ Business Name

b)      Article of Memorandum & Association/ BN01

c)      Tax Clearance Certificate / FIRs TIN

d)     Form co7 ( Particulars of Directors)

e)      Professional Certificate

f)       Company Profile

OBLIGATIONS ON ALL DNFIS

a)   Rendering Currency Transaction Reports (CTRs) in accordance with Section 10 of the Money Laundering (Prohibition) Act 2011 as amended / Cash Based Transaction Reports (CBTRs) required by Section 5 of ML (P) A 2011 (as amended)

a)      Suspicious Transaction Reports (STRs) may be defined as one which is unusual because of its size, volume, type or pattern or otherwise suggestive of known money laundering or terrorist financing methods. It includes such a transaction that is inconsistent with a client’s or customer’s known, legitimate business or personal activities or normal for that type of account or that lacks an obvious economic rationale. This report should be reported to the Nigeria Financial Intelligence Unit ( NFIU) www.nfiu.gov.ng

REQUIREMENT FOR CERTIFICATE COLLECTION

a)      Letter of Authorization written on a letter headed paper of the company introducing person(s) collecting the SCUML certificate on their behalf.

b)      A valid identify card ( Drivers license, International Passport , Permanent Voters Card , National Identity Card, NIMC)

A supermarket is a large retail market that sells food and other household goods usually operated on a self –service basis REGISTRATION REQUIREMENTS WITH SCUML

The above DNFIs are required to provide their full incorporation papers for registration

a)      Certificate of Incorporation/ Business Name

b)      Article of Memorandum & Association/ BN01

c)      Tax Clearance Certificate / FIRs TIN

d)     Form co7 ( Particulars of Directors)

e)      Professional Certificate

f)       Company Profile

OBLIGATIONS ON ALL DNFIS

a)   Rendering Currency Transaction Reports (CTRs) in accordance with Section 10 of the Money Laundering (Prohibition) Act 2011 as amended / Cash Based Transaction Reports (CBTRs) required by Section 5 of ML (P) A 2011 (as amended)

a)      Suspicious Transaction Reports (STRs) may be defined as one which is unusual because of its size, volume, type or pattern or otherwise suggestive of known money laundering or terrorist financing methods. It includes such a transaction that is inconsistent with a client’s or customer’s known, legitimate business or personal activities or normal for that type of account or that lacks an obvious economic rationale. This report should be reported to the Nigeria Financial Intelligence Unit ( NFIU) www.nfiu.gov.ng

REQUIREMENT FOR CERTIFICATE COLLECTION

a)      Letter of Authorization written on a letter headed paper of the company introducing person(s) collecting the SCUML certificate on their behalf.

b)      A valid identify card ( Drivers license, International Passport , Permanent Voters Card , National Identity Card, NIMC)

 

These entails refers to professional service providers in which client/customers engages them for service delivery. They are largely formal, regulated and certified by their proffesional bodies .

SCUML Regulation classifies Designated Non-Financial Institutions (DNFIs) under Professionals as follows:

a)      Legal Firms ( Service Providers by Lawyers in Litigation ,Notary Public , Company Secretaries)

b)      Accounting Firms –(service providers by Accountants both public and private sectors)

c)      Tax Consultants ( Provide professionla services on Tax matters)

d)     Audit Firms ( Provide Professionla Services on Audit matters)

e)      Consulting Firms ( Provide consultancy services for clients)

f)       Trust & Company Service Providers ( Hold Trust for individuals/companies)

g)      Claering & Settlement Companies( Provide services in Port Clearing)

REGISTRATION REQUIREMENTS WITH SCUML

The above DNFIs are required to provide their full incorporation papers for registration

a)      Certificate of Incorporation/ Business Name

b)      Article of Memorandum & Association/ BN01

c)      Tax Clearance Certificate / FIRs TIN

d)     Form co7 ( Particulars of Directors)

e)      Professional Certificate

f)       Company Profile

OBLIGATIONS ON ALL DNFIS

a)   Rendering Currency Transaction Reports (CTRs) in accordance with Section 10 of the Money Laundering (Prohibition) Act 2011 as amended / Cash Based Transaction Reports (CBTRs) required by Section 5 of ML (P) A 2011 (as amended)

a)      Suspicious Transaction Reports (STRs) may be defined as one which is unusual because of its size, volume, type or pattern or otherwise suggestive of known money laundering or terrorist financing methods. It includes such a transaction that is inconsistent with a client’s or customer’s known, legitimate business or personal activities or normal for that type of account or that lacks an obvious economic rationale. This report should be reported to the Nigeria Financial Intelligence Unit ( NFIU) www.nfiu.gov.ng

REQUIREMENT FOR CERTIFICATE COLLECTION

a)      Letter of Authorization written on a letter headed paper of the company introducing person(s) collecting the SCUML certificate on their behalf.

b)      A valid identify card ( Drivers license, International Passport , Permanent Voters Card , National Identity Card, NIMC)

 

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