The Sokoto Zonal Coordinator of the Special Control Unit Against Money Laundering (SCUML), Assistant Commander of the EFCC (ACE I) Ahmadu Bello, has called on dealers in precious metals and stones to ensure full compliance with relevant laws to avoid sanctions and conflict with regulatory authorities.
Bello gave the charge on Thursday, October 23, 2025, in Sokoto, during a one-day capacity-building workshop jointly organized by SCUML and the German Agency for International Cooperation (GIZ). The training was designed to equip dealers with knowledge of the Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT) framework and clarify the roles of Designated Non-Financial Businesses and Professions (DNFBPs) under the Money Laundering (Prevention and Prohibition) Act, 2022. Participants were drawn from Sokoto, Kebbi, and Zamfara states.
Delivering a paper titled “Money Laundering Vulnerabilities in the DNFBP Sector,” Bello observed that dealers in precious metals and stones (DPMS) are at high risk of exposure to money laundering and terrorist financing due to the portable and high-value nature of their trade.
He warned that illicit mining, trafficking, and smuggling of minerals remain widespread in the North-West, linking illegal gold mining to ongoing conflicts in Zamfara and Niger States. “Dealers must ensure transparency in their operations and remain compliant with established financial and regulatory frameworks,” Bello stated.
Highlighting key red flags and compliance obligations, the EFCC official reminded participants to maintain effective internal controls, implement customer due diligence measures proportionate to identified risks, and submit mandatory Cash Transaction Reports (CTRs) to SCUML as required by law.
Earlier sessions of the workshop covered the objectives of the Money Laundering (Prevention and Prohibition) Act, 2022, offences and penalties, SCUML’s functions, cash transaction limits, customer identification procedures, and suspicious transaction reporting mechanisms.
