SCUML Urges Precious Metal Dealers in Sokoto to Comply with AML Laws

The Sokoto Zonal Coordinator of the Special Control Unit against Money Laundering (SCUML), Assistant Commander of the EFCC, ACE1 Ahmadu Bello, has urged dealers in precious metals and stones in the Sokoto zone to strictly adhere to anti-money laundering laws to prevent legal conflicts. He made this appeal at a one-day capacity building workshop held on October 23, 2025, in collaboration with the German Agency for International Cooperation (GIZ). The workshop aimed to equip dealers with knowledge of the Anti-Money Laundering/Countering Financing of Terrorism (AML/CFT) regime, focusing on the responsibilities of Designated Non-Financial Institutions Businesses and Professions (DNFBPs) under the Money Laundering (Prevention and Prohibition) Act, 2022. Participants from Zamfara, Kebbi, and Sokoto states attended.

In his presentation titled “Money Laundering Vulnerabilities in the DNFBPS Sector,” Bello emphasized that dealers in precious metals and stones are uniquely vulnerable to money laundering and terrorism financing due to the trade in transferable valuables. He warned about the surge in illicit mining, trafficking, and smuggling in the region, noting that illegal gold mining has been linked to conflicts in northern Nigerian states, particularly Zamfara and Niger.

Bello outlined key compliance requirements for the dealers, including the establishment of internal policies and controls, conducting customer due diligence proportional to the risk, and submitting Cash Transaction Reports (CTRs) to SCUML. The workshop also covered the objectives and penalties under the Money Laundering (Prevention & Prohibition) Act, 2022, the functions of SCUML, limits on cash payments, customer identification, and suspicious transaction reporting.

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This initiative reflects ongoing efforts by SCUML and EFCC to strengthen the fight against money laundering and terrorism financing within high-risk sectors like the precious metals trade in Nigeria’s northwest region ​.