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A man operating a POS machine
Over 80 Point of Sales (PoS) vendors in Akure, the Ondo State capital, have been arrested by operatives of the Economic and Financial Crimes Commission (EFCC) for allegedly buying and selling money to individuals with higher interest.
The operation was carried out in Akure South and Akure North Local Government Areas.
It was gathered that the PoS operators were forced to disclose the source of the cash used in their businesses.
A source said some PoS agents confessed to buying cash from banks after which they charged their customers exorbitantly.
According to the source: “They have arrested about 80 PoS attendants in Oja Oba area. 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.
“A PoS agent was just here attending to customers when a woman came and asked how much he charges on every one thousand naira," the source added.(Courtesy, excluding headline, The Nation)
