The Special Control Unit against Money Laundering, SCUML and the Ogun State Ministry of Solid Minerals Development, Ogun State, have resolved to strengthen their collaboration towards effective enforcement of the Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) laws in Nigeria.
This resolve was reached on Tuesday, May 13, 2025, at a strategic engagement held at the Federal Secretariat, Abeokuta, Ogun State.
The session was aimed at sensitizing stakeholders, particularly dealers in precious metals and stones, on the regulatory obligations under the Money Laundering (Prevention and Prohibition) Act, 2022 and other AML/CFT requirements.
Speaking during the interactive session, Assistant Commander of the EFCC, ACE I Ibinabo Amachree, Head, SCUML, Lagos, thanked the miners and ministry’s officials for honouring the invitation, and also reiterated SCUML’s commitment to strengthening compliance across the Designated Non-Financial Businesses and Professions (DNFBPs), including the mining sub-sector.
Also speaking, ACE II Folasade Oluwasanya enlightened the participants on the AML/CFT compliance framework applicable to the sector.
Oluwasanya also enjoined the miners to register with SCUML, conduct Customer Due Diligence CDD, and report Suspicious Transactions STRS.
She further noted the critical role of the sector, especially as Nigeria intensifies its efforts to exit the FATF Grey List and restore investors’ confidence.
In his remarks, Ojediran Abimbola B, the Federal Mines Officer overseeing Ogun State, expressed the readiness of the ministry for the collaboration and also pledged support for joint efforts to sanitise the sector.
He emphasised the need for compliance as a tool for ensuring a secure, transparent, and investment-friendly environment, while also protecting the ecosystem from unsafe mining practices.
The session ended with a mutual agreement to deepen the partnership between SCUML and the ministry through broader sensitisation campaigns and targeted regulatory outreach to operators across the state.
