The Economic and Financial Crimes Commission, EFCC, has urged accountants in the country to comply with the Anti-Money Laundering and Counter-Terrorism Financing, AML/CFT, laws in their operations to promote a clean and transparent financial sector.
This call was made in Lagos on Wednesday, May 28, 2025, at a training organised by the Special Control Unit against Money Laundering, SCUML, a Department in the EFCC, for the Advisory Team of KPMG Nigeria.
The training held at KPMG Nigeria Headquarters in Lagos provided participants with a comprehensive analysis of the Money Laundering (Prevention and Prohibition) Act, 2022, its implementing regulation,s as well as key Financial Action Task Force (FATF) recommendations.
It also provided guidance on Customer Due Diligence for high-risk clients, Record-keeping Protocols and Suspicious Transaction Reporting duties tailored to advisory services.
In his remarks, Director, SCUML, Deputy Commander of the EFCC, DCE Harry Erin, highlighted Nigeria’s roadmap for the upcoming FATF mutual evaluation process, emphasising the importance of meticulous documentation and audit preparedness.
He stressed that accountants played a critical role in establishing a clean and transparent financial sector, adding that “Accountants, by their advisory role and transactional oversight, are high-risk gatekeepers under both domestic statutes and global standards.
“Your proactive engagement is critical to establishing a clean, transparent financial sector.”
Erin, who also reaffirmed SCUML’s ongoing partnership with the private sector, stated that “collaborative vigilance is essential for Nigeria’s financial integrity.”
Speaking on behalf of the KPMG Advisory Team members, Olumide Olayinka, Partner and Head, Advisory, KPMG Nigeria, expressed the team’s commitment to integrating robust AML/CFT controls into their client engagements.
