EFCC Operatives Arrest Over 80 POS Operators

Operatives of the Economic and Financial Crimes Commission (EFCC) in Ondo state over the weekend clamped down on over 80 Point of Sales (PoS) agents, suspected to be buying money and selling to members of the public with skyrocketing interest.

Officials of the commission carried out the exercise in Akure, the state capital today.

It was gathered that the EFCC men have been going round Akure South and Akure North Local Government Area in the state, arresting and forcing PoS operators to disclose the source of the cash used in their business as they sell at higher rates to residents.

A visit to Oja-Oba area in Akure South and Oba-Ile area in Akure North local government area in the state on Saturday evening, showed, that some POS agents have deserted their stands for fear of being arrested.

It was alleged that some PoS agents have been buying cash from banks, and they charge their customers exorbitantly while selling the money to them.

An eyewitness who craved anonymity said the operatives stormed the popular Oja-Oba market along Oba Adesida road in Akure and arrested about 80 PoS agents.“They have arrested about 80 PoS attendants in Oja Oba area, saying, “if they come to you, they will ask you to disclose the source of your cash and how much you are charging your customers and also ask you to take them to the person that gave you the money.

Some PoS attendants, who got the information beforehand, abandoned their stands and flee.

Another eyewitness, a neighbour to one of the POS agents arrested, said: “She was just here attending to customers when a woman came and asked how much he charges on every one thousand naira.

“As at the time the transaction was made, I saw the woman signaled to some men and that was how I knew they were EFCC officials and they whisked him away.

“But it is sad the way at which the PoS vendors exploit residents because they see members of the public as not having another option since banks are not helpful.

The PoS agents are making too much gains. You can imagine charging 250 naira for each N1, 000 transaction.

The situation is very worrisome as a resident of Irese in Ifedore Local Government area of Ondo state, Mr. John Ebere lamented, that some PoS vendors in the community are charging N800 on N3, 000.

“I pray that the CBN should fulfill its promises of flooding the banks with money so that the public can be rescued from the extortion by the PoS vendors,” he posited.

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Michael-Azeez Ogunsiji

Ogunsiji is a finesse Journalist, content developer, investigative journalist, and fact-checker. He is also a trained broadcaster with over a decade in the journalism profession. He is the editor of THE ENCOUNTER NEWS.

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