EFCC raids PoS Terminals, apprehends 80 operators in Ondo

No fewer than 80 operators of Point of Sales (PoS) terminal were, over the weekend, arrested in Ondo State by operatives of the Economic and Financial Crimes Commission (EFCC) over alleged involvement in buying and selling of naira notes.

In a sting operation carried out in Akure, the Ondo State capital, and in some local councils, the EFCC officials targeted PoS vendors giving out the notes at higher rates.

The operation, which took place mostly in Akure South Local Council and Akure North Local Council, had the anti-graft operatives inquiring from the vendors where the got the cash from.

With the news of the operation filtering into the town, many vendors in the Oba-Ile area of the state deserted their stands for fear of being arrested.
It was alleged that some PoS agents had 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.

“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.

“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 N250 for each N1,000 transaction.”