The EFCC has told motor dealers to ensure compliance with regulations requiring registration and certification of their businesses by the Special Control Unit against Money Laundering (SCUML).

Its Ilorin zonal commander, Michael Nzekwe, said this when Kwara Motor Dealers Association, led by its president, Ahmed Abdul, visited the office on Wednesday in Ilorin.

Mr Nzekwe said apart from enforcing compliance with SCUML regulations, the EFCC, under the new Money Laundering Act (MLA), had the legal responsibility to safeguard the investment of stakeholders in the Non-Designated Financial Institutions (NDFI) from the activities of fraudsters.

According to him, with the new MLA, SCUML is now under the EFCC. Its responsibilities involve ensuring compliance of NDFIs, including but not limited to car dealers, jewellery dealers, real estate managers, hoteliers and other stakeholders with the provisions of the law.

“If we can checkmate the problems associated with the laundering of proceeds of crime in this country, corruption and crime rate will reduce drastically. I use this opportunity to urge members of the association to support the commission in its sustained fight against money laundering and terrorism financing in Nigeria,” the EFCC official explained. “There is a need for you to be very wary in your businesses so as not to run foul of the law because we will go all out to enforce the laws to the letter.”

(NAN)