Increased Scrutiny on Asset Provenance
The Economic and Financial Crimes Commission (EFCC) has intensified its crackdown on money laundering, focusing heavily on luxury real estate transactions in Lagos and Abuja. Real estate developers are now required to file comprehensive SCUML (Special Control Unit Against Money Laundering) reports.
Compliance in Luxury Purchases
Buyers must ensure absolute clarity in source-of-funds documentation. This regulatory oversight makes transparent transactions and legal escrow services crucial for all high-end acquisitions.