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Naira Scarcity: Four PoS Operators Arrested For Extortion In Benue


The Central Bank of Nigeria, Makurdi branch has aided the arrest of four point-of-sales (PoS) operators across the state capital for overcharging customers as much as 20 percent for transactions.

The apex bank in joint operation with law enforcement agencies, handed over the accused to the Economic and Financial Crimes Commission (EFCC), Makurdi Zonal Office for further investigation and prosecution.

A team led by CBN Deputy Director, Harry Agbo, visited major markets and PoS point outlets across the state capital.

This followed complaints by residents over the exploitation chargesย  by PoS operators, as some claims to be charged N3,000 for every withdrawal of N10,000.

However, the accused PoS operators were not allowed to explain the reason for such charges.

The apex bank reportedly conducted the sting operation with the directive not to make a public statement on any issue from the state branches, saying investigations will be done and anyone found wanting will be prosecuted.

The CBN had earlier warned operators of PoS not to charge above N200 for transactions offered their customers. However, because of the scarcity of the new Naira notes, some operators have been charging as much as 30 percent and above for those eager to obtain cash through the credit cash transactions.

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