DNFIs and the Special Control Unit on Money Laundering

The Money Laundering (Prohibition) Act, 2011, defines Designated Non-Financial Institution (DNFIs) as dealers in Jewelry, Luxury Goods, Chartered Accountants, Audit Firms, Tax Consultants, Clearing And Settlement Companies, Legal Practitioners, Hotels, Casinos, Supermarkets, or such other businesses as the Federal Ministry of Commerce (now Federal Ministry of Industry, Trade and Investment) or appropriate regulatory authorities may from time to time designate.

This list of institutions has been expanded to include; Trust and Company Service Providers, Estate Surveyors and Valuer’s, Estate Agent & Brokers, Pool Betting & Lottery, Hospitality industry, Consultants and Consulting Companies, Importers ad Dealers in Cars or any other Automobile, Dealers In Mechanized  Farming Equipment and Machinery, Practitioners of Mechanized Farming, Dealers in Precious Stones and Metals, Non-Governmental Organizations.