The Economic and Financial Crimes Commission (EFCC) has sealed off two companies in Sokoto State for failing to comply with anti-money laundering regulations.
The affected firms are Iman Multi Structures Ltd and Daraja Motors, both accused of ignoring fines imposed for breaches of the Money Laundering (Prevention and Prohibition) Act, 2022 and the EFCC’s AML/CFT/CPF Regulations, 2024.
According to EFCC spokesperson Dele Oyewale, the Special Control Unit Against Money Laundering (SCUML) carried out the enforcement after the companies failed to pay penalties issued on June 18 and August 13, 2025, despite a grace period.
“The ultimatum to pay the fines expired over a month ago. The premises will remain sealed until full compliance with extant regulations is achieved,” the EFCC said.
The commission stressed that registration with SCUML is mandatory for Designated Non-Financial Institutions (DNFIs), including real estate firms, legal and accounting services, luxury goods dealers, and forex businesses, to prevent their use as channels for illicit financial flows.
Both premises remain shut, and the companies cannot resume operations until they meet the requirements and settle their outstanding obligations.
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