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Financial Crimes: POS Agents Move To Register Members In FCT

In order to reduce financial crimes perpetrated through the Point of Sales (POS) machines in the Federal Capital Territory (FCT) POS Agents have begin the registration of its members with a charge on all operators to participate.

This comes as the operators under the aegis of Consolidated Point of Sales Agents expressed displeasure that criminal elements have infiltrated the agency banking system, giving its members who are genuinely engaged in decent means of livelihood a negative image.

The group’s Director of Operations , Alhaji Hassan Hakilu made this known at a press conference in Abuja noted that agency banking is a global innovation which has not only generated employment but brought banking services to the doorsteps of the people.

He frowned at the activities of people he described as unscrupulous elements masquerading as POS agents, ripping unsuspecting customers off their funds through dubious means.

According to him “This exercise will help us with a reliable data on those who are our members and those who are in the business for sinister motives.

“Thankfully, the leadership has held fruitful meetings with various stakeholders including the Economic and Financial Crimes Commission EFCC, FCT Police Command, Central Bank of Nigeria CBN and other relevant agencies of government.

“We will not spare operators identified to be indulging in sharp practices and fraudulent acts.

We will quickly do the needful by handing such individual over for investigation and possible prosecution by security agencies”

Meanwhile, the Vice President Operations, Mr. Ebere Nwokocha expressed concern that the new innovation which has further bridged the gap of unbanked members of the society is on the verge of gross abuse, reiterating the vigilance of the Consolidated Point of Sales Agents in Abuja to fish out corrupt practices in the system and ensure that adequate sanction is meted to erring members.

The Board of Trustees Chairman of the group, Barr. Basil Onyeachonam noted that POS business has become a safe haven for ‘yahoo boys’ to recruit young men and women to harvest banking data of unsuspecting customers for criminal intents.

He said that the agency banking has come to stay in Nigeria, Barr. Onyeachonam said there is need to build public confidence in the system, adding that proper documentation of operatives will expose bad eggs on the system.

The registration which commenced on March 1, 2022 is expected to end April 1, 2022 after which a penalty fee will be charged.

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