SCUML cracks down on Huge Dream Properties Ltd, seals office

Stanley Ihedigbo

Special Control Unit against Money Laundering (SCUML), has taken decisive action against Huge Dream Properties Ltd, sealing its office for non-compliance with Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) regulations.

According to the Head, Media and Publicity, EFCC, Dele Oyewale, Huge Dream Properties Limited, a real estate firm with projects in various locations within the Federal Capital Territory, FCT, was initially visited on October 9, 2023, and it was discovered that it was not compliant with the AML/CFT requirements as enshrined in the Money Laundering (Prevention and Prohibition) Act, 2022, MLPPA, 2022.

A further visit to the entity on March 12, 2025, revealed that the company still contravened the provisions of MLPPA 2022 therefore making it vulnerable to money laundering activities.

Owing to this, officers of SCUML visited the premises of the affected business and passed a notice of non-compliance to AML/CFT policies and procedures on the company.

The notice will remain posted till the company meets full compliance with the relevant laws. The notice also advises members of the public to tread with caution in carrying out business transactions with the company.