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Indiscriminate use of POS will not be tolerated—EFCC

Indiscriminate use of POS will not be tolerated—EFCC
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The Economic and Financial Crimes Commission, (EFCC) has expressed concern over the indiscriminate use of POS (Point of Sale) machines in the country.

Acting Chairman of the Commission, Ibrahim Magu, disclosed this through the Zonal Head of the Commission, Johnson Babalola, in an interactive meeting with regional bank managers at the EFCC Zonal office in Makurdi, Benue State on Thursday, June 13, 2019.

Babalola who represented Magu at the meeting while stressing that the EFCC was having serious challenges with the banks giving POS machines to individuals with questionable characters and without proper documentation, warned banks to ensure proper monitoring and strict compliance by those they give POS machines.

The EFCC boss who revealed that some of the POS machines would have to be withdrawn from the individuals harped on the need for banks to assist the EFCC in their work.

He worried that some banks have adamantly refused to follow the Post-No-Debit order (temporary freezing of account), and still pay out money from such accounts even as he warned that such will no longer be tolerated as culprits will be made liable.

He noted that some staff of banks were in the habit of notifying customers whose accounts were placed on Post-No-Debit, that this is aiding and abetting crime and obstruction of justice, instead of assisting the commission as stipulated by law.

He urged the bankers to continue to give the EFCC their maximum cooperation in ensuring a corrupt- free society.

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Abdullahi
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Abdullahi

Great, magu have a point, pos can serve as a scam