We explained SCUML Registration Requirements Non – Governmental Organizations (NGOs) and Non –Profit Organization (NPOs) in this post.
SCUML is charged with the responsibility of monitoring, supervising and regulating the activities of Designated Non-Financial Institutions (DNFIs) in line with the Money Laundering (Prohibition) Act ML(P) Act 2011 and the Prevention of Terrorism Act (PTA) 2011.
Read: SCUML Registration Steps, Functions & Requirments
There two legal status an NPO can assume under CAMA
- Incorporated Trustees
- Company Limited By Guarantee
An NPO can be either Domestic or International
- International NGO (INGO) – incorporated in another country and operating in Nigeria under an agreement made with Federal Government through National Planning Commission. They are often referred to as Development Partners or Donors etc.
- Domestic NGOs – incorporated or Registered in Nigeria
NGOs/ NPOs REGISTRATION REQUIREMENTS WITH SCUML
All domestic NGOs/NPOs
– are required to provide their full incorporation papers for registration
a) Certificate of Incorporation
b) Incorporation of Trustees
c) CAC Approved Constitution
STATE REGISTERED NGOS
– are required to provide their full incorporation papers for registration
a) Registration Certificate obtained from agency
b) Constitution
c) Copies of valid identity cards of at least three (3) trustees or promoters of the organization
Read: NGOs Registration Service
ALL DNFIS NGOs/ NPOs OBLIGATIONS
a) Rendering Currency Transaction Reports (CTRs) in accordance with Section 10 of the Money Laundering (Prohibition) Act 2011 as amended / Cash Based Transaction Reports (CBTRs) required by Section 5 of ML (P) A 2011 (as amended)
a) Suspicious Transaction Reports (STRs) may be defined as one which is unusual because of its size, volume, type or pattern or otherwise suggestive of known money laundering or terrorist financing methods. It includes such a transaction that is inconsistent with a client’s or customer’s known, legitimate business or personal activities or normal for that type of account or that lacks an obvious economic rationale. This report should be reported to the Nigeria Financial Intelligence Unit ( NFIU) www.nfiu.gov.ng
REQUIREMENT FOR CERTIFICATE COLLECTION
a) Letter of Authorization written on a letter headed paper of the company introducing person(s) collecting the SCUML certificate on their behalf.
b) A valid identify card ( Drivers license, International Passport , Permanent Voters Card , National Identity Card, NIMC)