EFCC Issues Fresh Warning to POS Operators

The Economic and Financial Crimes Commission (EFCC) has sent a message to Point of Sale (PoS) operators across the country.

The commission on Wednesday, May 7, charged the PoS operators to ensure that they are guided by the rules and regulations of the Central Bank of Nigeria (CBN).

According to the commision, all PoS operators in Nigeria need to take the issue of Know Your Customer (KYC) seriously.

Bawa Kaltungo, Acting Director, Kaduna Zonal Directorate, gave the advice during a meeting with operators under the umbrella of the Association of Mobile and Bank Agents of Nigeria (AMBAN) led by the chairman, Mohammed Bala.

Speaking on behalf of Ola Olukoyede, the chairman of the EFCC, Kaltungo commended the association for organising such an engagement.

He also called for their collaboration with the EFCC in the fight against money laundering and other financial crimes.

Kultango urged all the operators to ensure they get acquainted with the laws and guidelines of the CBN in relation to their line of business.

He urged the PoS operators to ensure they do not fall victim to fraudsters, as they are a huge attraction to criminals.

In his address, Bala highlighted some of the risks associated with being a PoS operator in the country.

For easy identification of members, Bala disclosed that the association came up with a website where every one of their members is captured.