POS wahala: EFCC arrests 80 PoS vendors in Ondo, CBN Ban Banks 4rm Operating PoS

[CryptopreneurBrainboss]

Abeg wetin dey happen with PoS, na so so dem news I just dey see for  everywhere for my timeline. Few days ago I read say CBN dun ban banks from operating POS and dem dun Approves 17 Companies As Mobile Money Operators In Nigeria. I dey look through those name and I no sew Opay yet I dey see their Pos everywhere abi make person look through so we know where we stand. See as the news go;

CBN Ban Banks From Operating PoS, Approves 17 Companies As Mobile Money Operators In Nigeria
Read more here: https://crossriverwatch.com/2023/03/cbn-ban-banks-from-operating-pos-approves-17-companies-as-mobile-money-operators-in-nigeria/amp/

Due to the recent hiccups experienced by bank customers and their inability to use mobile apps and other digital touchpoints, Nigerians have begun the search for alternatives as fintech firms have taken over the ecosystem and provided better experiences.These licensed mobile operators have provided relief to many Nigerians at the time of unprecedented transaction failures.

The mobile money operators offer incentives such as zero transfer charges and daily rewards to customers. Many customers on these platforms are concerned about the legality of the platforms and wonder if they are authorised or licensed to operate in Nigeria. The worries have prompted the apex bank to draw up a list of authorised operators in the financial ecosystem

Still on the PoS matter; "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. you fit find the story here; https://thenationonlineng.net/efcc-arrests-80-pos-vendors-in-ondo/". I dey understand say this people dun confess say dem dey buy this money from banks but no be the same banks wey dey say dem no get cash. Shey una dey see the country we dey inside, no be everything wey dey blame government. Shall how una see the development, e good as EFCC dey go after this POS businesses or you dey feel say na another misplaced priority?

[1714041565]

1714041565

[1714041565]

1714041565

[1714041565]

1714041565

[CryptSafe]

Abeg wetin dey happen with PoS, na so so dem news I just dey see for  everywhere for my timeline. Few days ago I read say CBN dun ban banks from operating POS and dem dun Approves 17 Companies As Mobile Money Operators In Nigeria. I dey look through those name and I no sew Opay yet I dey see their Pos everywhere abi make person look through so we know where we stand. See as the news go;

CBN Ban Banks From Operating PoS, Approves 17 Companies As Mobile Money Operators In Nigeria
Read more here: https://crossriverwatch.com/2023/03/cbn-ban-banks-from-operating-pos-approves-17-companies-as-mobile-money-operators-in-nigeria/amp/

Due to the recent hiccups experienced by bank customers and their inability to use mobile apps and other digital touchpoints, Nigerians have begun the search for alternatives as fintech firms have taken over the ecosystem and provided better experiences.These licensed mobile operators have provided relief to many Nigerians at the time of unprecedented transaction failures.

The mobile money operators offer incentives such as zero transfer charges and daily rewards to customers. Many customers on these platforms are concerned about the legality of the platforms and wonder if they are authorised or licensed to operate in Nigeria. The worries have prompted the apex bank to draw up a list of authorised operators in the financial ecosystem

Still on the PoS matter; "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. you fit find the story here; https://thenationonlineng.net/efcc-arrests-80-pos-vendors-in-ondo/". I dey understand say this people dun confess say dem dey buy this money from banks but no be the same banks wey dey say dem no get cash. Shey una dey see the country we dey inside, no be everything wey dey blame government. Shall how una see the development, e good as EFCC dey go after this POS businesses or you dey feel say na another misplaced priority?

I think this is a misplaced priority. Doing the right thing at the wrong time. I was thinking they would swing into action as earlier when the heat was on by starting with the banks selling the naira note to the POS vendors. Week's ago Nigerians were under pressure and sufferings just to get naira notes which were removed in circulation. Banks and pos took advantage of the whole process as a good lucrative business by trading with the naira for naira at exhorbitant rate extorting and exploiting innocent citizens of the country. The efcc should have swinged into action then not now. They are just attention seekers who does not know or have clues on what to do at the right time.

[Gozie51]

Shey una dey see the country we dey inside, no be everything wey dey blame government.

From top to bottom   my own view to repair this country na from top and that top na from number 1 citizen of Nigeria, that person wey be the commander in chief of the armed forces because Nigerian system works without institution but the bidden of the president.

Shall how una see the development, e good as EFCC dey go after this POS businesses or you dey feel say na another misplaced priority?

Yes oo I dey feel say na very big misplaced priority. Na the inefficiency of government dey make Nigerians dey take advantage of demselves. Okay make we even ask ourselves say where dem carry naira go keep wey start the scarcity? Dem dey do naira redesign so hasty because of political reasons without proper planning against the effects, hence somebody just wake think say the dream wey him see for night go perfect for real life. I no blame pos people, make government go arrest source where dem dey get the cash from, wetin concern pos people? Na Nigerians dem be so make government first arrest bank CEOs and executives if them actually make the money available.

I dey look through those name and I no sew Opay yet I dey see their Pos everywhere abi make person look through so we know where we stand.

That news say dem ban Opay, Kuda, and Palmpay operations in Nigeria be like say na rumour. I don read somewhere wey CBN debunk am as fake news but make we still put ears for ground.

Meanwhile make dem leave pos people to dey operate oo, dey can only bring money out and even thing go level up back. Government dey preach about entrepreneurship and micro businesses but na dem still dey frustrate am.

[Cantsay]

This issue of cash don really reduce for my area Wella o, if you go bank for my side even if nah 20k you wan withdraw dem go give you sharpaly unlike before when the highest nah 2k.
As for the POS matter nah first time when I dey hear/read about am be this, I know say our state governor make mention of arresting POS people when dey over charge, I nor Kon follow the matter to know if them really dey do am or nah just cap our governor dey cap.

But for the banning of POS Omo the thing nor really make sense for ear o, as that one nai many people take dey survive for we country and if dem ban am he go really affect many people.

[Davidvictorson]

Abeg wetin dey happen with PoS, na so so dem news I just dey see for  everywhere for my timeline. Few days ago I read say CBN dun ban banks from operating POS

I read this news and I nor dey surprised at all. Na Naija we dey. My first rhetorical question for CBN be say those businesses wey don already collected bank POS for their business, how dem go do now? Abi dem go return the POS make the bank kuku refund them their money? Well, time go tell.

and dem dun Approves 17 Companies As Mobile Money Operators In Nigeria. I dey look through those name and I no sew Opay yet I dey see their Pos everywhere abi make person look through so we know where we stand.

Me dey wonder why CBN go wait reach now before them go approve these 17 mobile money operators. E dey good Sha. At least people go fit still trust them. By th waye OPAY dey among the approved mobile money operators. See am here.https://www.google.com/amp/s/nairametrics.com/2023/03/20/here-are-the-17-companies-licensed-by-cbn-as-mobile-money-operators-in-nigeria/%3famp=1

Still on the PoS matter; "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. you fit find the story here; https://thenationonlineng.net/efcc-arrests-80-pos-vendors-in-ondo/". I dey understand say this people dun confess say dem dey buy this money from banks but no be the same banks wey dey say dem no get cash. Shey una dey see the country we dey inside, no be everything wey dey blame government.

Abeg, make EFCC go everywhere dey arrest them. E still dey paine reach bone say I use 4k collect 10k. That one na just pure robbery. And na why I go still talk say Nigerians dey very wicked to their fellow Nigerians pass we government. I rest my case

[Sexylizzy2813]

Abeg wetin dey happen with PoS, na so so dem news I just dey see for  everywhere for my timeline. Few days ago I read say CBN dun ban banks from operating POS and dem dun Approves 17 Companies As Mobile Money Operators In Nigeria. I dey look through those name and I no sew Opay yet I dey see their Pos everywhere abi make person look through so we know where we stand. See as the news go;

CBN Ban Banks From Operating PoS, Approves 17 Companies As Mobile Money Operators In Nigeria
Read more here: https://crossriverwatch.com/2023/03/cbn-ban-banks-from-operating-pos-approves-17-companies-as-mobile-money-operators-in-nigeria/amp/

Due to the recent hiccups experienced by bank customers and their inability to use mobile apps and other digital touchpoints, Nigerians have begun the search for alternatives as fintech firms have taken over the ecosystem and provided better experiences.These licensed mobile operators have provided relief to many Nigerians at the time of unprecedented transaction failures.

The mobile money operators offer incentives such as zero transfer charges and daily rewards to customers. Many customers on these platforms are concerned about the legality of the platforms and wonder if they are authorised or licensed to operate in Nigeria. The worries have prompted the apex bank to draw up a list of authorised operators in the financial ecosystem

Still on the PoS matter; "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. you fit find the story here; https://thenationonlineng.net/efcc-arrests-80-pos-vendors-in-ondo/". I dey understand say this people dun confess say dem dey buy this money from banks but no be the same banks wey dey say dem no get cash. Shey una dey see the country we dey inside, no be everything wey dey blame government. Shall how una see the development, e good as EFCC dey go after this POS businesses or you dey feel say na another misplaced priority?

Omo those matter make sense oh, I like as them nab them for that crime wey be to dy buy our own currency but if nah to stop POS operation hmm, e no make sense at all nah to just circulate money full we yonda make e dy as e dy before with normal charges with that one e go make sense. Me I tire for this plenty big big charges all in the name of I buy moni at higher rate, na wa.
EFCC try but make them no too carry the matter for head make something no go spoil pass as e dy now, I know how  them sabi over do, but kudos to them but make them take am easy biko.

[Merit.s]

EFCC try to catch those POS operators when feel say them go just dey extort people from their hard earned money. My problem be say why them no go arrest those banks wey this PoS operators dey buy the money from. When this selling money thing serious I still hear say EFCC go arrest some bank managers. At least this go be lesson for people say when government say no do like this,make we obey law. Some people wey dey disobey government law get government back up but if you no get and you go follow the one wey get violate law,na you go use your head carry am. I dey very sure say government don do this announcement before EFCC Cary out action. Let a better Nigeria start from me and you.

[CryptoHeadlineNews]

"
I dey understand say this people dun confess say dem dey buy this money from banks but no be the same banks wey dey say dem no get cash. Shey una dey see the country we dey inside, no be everything wey dey blame government. Shall how una see the development, e good as EFCC dey go after this POS businesses or you dey feel say na another misplaced priority?

For me, I see this as another misplaced priority, because the people who were supposed to be arrested are those bank managers who sold the money to P.O.S agents rather than loading it on ATM, making it accessible to customers. Because in as much as these P.O.S agents did charge exorbitant price due to cash scarcity, they did actually play a bigger role helping the poor masses access cash when our banks failed us all with no cash and even poor networks for internet transfer.
So in conclusion, I will love to say that this whole issue of money palava can be resolve by only two people in this country, namely "the president & CBN governor, of which that has had no business to do with stopping other banks from operating p.o.s agent

[MeCsc]

I dey look through those name and I no sew Opay yet I dey see their Pos everywhere abi make person look through so we know where we stand. See as the news go;

CBN Ban Banks From Operating PoS, Approves 17 Companies As Mobile Money Operators In Nigeria
Read more here: https://crossriverwatch.com/2023/03/cbn-ban-banks-from-operating-pos-approves-17-companies-as-mobile-money-operators-in-nigeria/amp/

CBN disregard any claim of banning, you can read it here: CBN denies suspending OPAY, PALMPAY accounts(Vanguard News)
I don't think this will be the full list, Because they disregarding news about them banning opay and  palmpay and We not seeing OPay on the list, Shows that not the only list. Aside from that First Monie is not on the list and whereas it is owned by First Bank.

Still on the PoS matter; "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. you fit find the story here; https://thenationonlineng.net/efcc-arrests-80-pos-vendors-in-ondo/". I dey understand say this people dun confess say dem dey buy this money from banks but no be the same banks wey dey say dem no get cash. Shey una dey see the country we dey inside, no be everything wey dey blame government. Shall how una see the development, e good as EFCC dey go after this POS businesses or you dey feel say na another misplaced priority?

I support EFCC, this will make the news spread much faster because if they go about arresting or closing banks first, The bank will try not to let the public known about it (No organisation will want to damage their image) but  in the case of the pos vendors, Citizens are seeing them and will continue to report them till they change from their high rate.There will also be fear in any bank Managers and pos vendors heart, both parties will not think of buying money. Aside from buying from the bank, Pos vendors do buy money from traders and so this is the best way to stop their over high rate

[SmartGold01]

E good for them, those people no get conscience at all because government been don talk say make those people no charge any body above 200 for 10,000 and 100 for 5000 naira, 300 for 15,000. Before this arrest there was a memo or a written notes to say all PoS operators should stops the exorbitant fees and any PoS operator caught doing so they should report them to CBN and a call and WhatsApp line was issued across if any violate the rules so i guess that was the reason the arrest of those operators.

[Rruchi man]

I dey understand say this people dun confess say dem dey buy this money from banks but no be the same banks wey dey say dem no get cash. Shey una dey see the country we dey inside, no be everything wey dey blame government. Shall how una see the development, e good as EFCC dey go after this POS businesses or you dey feel say na another misplaced priority?

Normally na this kind things i know say go dey sup because citizens dey sabi take advantage of each other for this country cun still dey blame government. We nor dey help ourselves. Since the money scarcity wey POS operators observe say the thing dey to their advantage, and some kind people for banks sef dey benefit somehow as dem go dey sell the money for only POS people, I know say even after the government go release the money, these banks go hoard am make dem still fit dey sell small.

Many people dun talk say dem nor go forgive all this POS people as dem dey do wicked this period with their business. The thing nor go fit remain like this forever, hopefully in a month's time, this matter go dun pass.

[CryptocurencyKing]

Na waa o, watin sup wth Opay na... Opay way popular na em no mak d list... I con dey see Fintech companies way I nevr evn sight dere logo or hear dere name b4 cef.
Anyway, na 17 companies dem say dem approv bt, na only 15 company way dey dat list frm watin I count. E be lik dem purposefully remov some. E fit b business strategy by competitors, to pay say mak dem nevr publish som companies so, dem fit shake dere customers leg.
Dem 4 try declare shah, mak persn knw watin e dey do. Na why, e no soft 2 leave big money 4 dis mobile fintech companies.

[RockBell]

despite it being late I think they really need to punish do guys for buying and selling cash is very wrong a currency that is produced in our own country, despite this news pos people have to refuse to go back to their normal withdrawal charges, I withdrew today is still hundred nairas per 1000 naira, but the government trying to ban pos is not really ideal is not everyone that has to assess to banks so I think they should allow them to operate and opay not been listed still surprised I love there mode of lightening operation.

[Wiwo]

Na waa o, watin sup wth Opay na... Opay way popular na em no mak d list... I con dey see Fintech companies way I nevr evn sight dere logo or hear dere name b4 cef.
Anyway, na 17 companies dem say dem approv bt, na only 15 company way dey dat list frm watin I count. E be lik dem purposefully remov some. E fit b business strategy by competitors, to pay say mak dem nevr publish som companies so, dem fit shake dere customers leg.
Dem 4 try declare shah, mak persn knw watin e dey do. Na why, e no soft 2 leave big money 4 dis mobile fintech companies.

I no surprise say I no see opay on the list sake of say opay done already get issue for CBN side and the fact that opay have been used by many scammers since opay happens to be one of the earliest fin tech company to explore the 9Ja digital banking,  na boiz cast opay and the major issue against opay are.

1: their involvement in the hacking of clients' phonebooks and the unauthorized contacting of victims' contacts and declaring them as criminals simply because they defaulted on their loan repayments.

2: opay early staff explore and abused a lot of vulnerabilities in the fintech system and sweep away customers' balance.

-This and many more are the cases standing against them with the CBN, and if care is not taken opay will be forced out of the Nigerian market but I doubt that will happen since the license are not threatened yet.

[Marykeller]

I believe sae, no be the only state wey you mention(Ondo) wey EFCC d arrest POS people. For my side state also, EFCC d arrest POS people join. Em be like wetin the EFCC wan do throughout the federation na to go after POS people cos they see how those set of people do Nigerians forty(wayo). Check out Nigerians buying their own money with a high-cost price. You can imagine nah.

Concerning the fact sae bank d involve for the sale of naira notes. I been tell my friends sae, as far as bank d involve for this sale of naira notes, em go d hard for our naira notes to circulate as em suppose to. We Nigerians d mean when we d in control of some certain things.

To get things working in this country back, em need strong laws and actions to be taken to get things right. I support and like this move wey EFCC d take to arrest POS people. At least em go curtail how dem d sell the naira notes without fear

[Asiska02]

Still on the PoS matter; "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. you fit find the story here; https://thenationonlineng.net/efcc-arrests-80-pos-vendors-in-ondo/". I dey understand say this people dun confess say dem dey buy this money from banks but no be the same banks wey dey say dem no get cash. Shey una dey see the country we dey inside, no be everything wey dey blame government. Shall how una see the development, e good as EFCC dey go after this POS businesses or you dey feel say na another misplaced priority?

Dis no be any misplaced priority and I dey fully in support of wetin EFCC do dem. If dem finish from that state make them enter another state because this people just dey rip us out of our  hard earned money. The problem come be say their mouth dey together always and you can’t get it at a cheaper rate in another place. Na we naija citizens still dey do ourselves even when government wan help us. .

[Zanab247]

I like d way EFCC is going after POS vendors because, upon the instructions federal government game to all banks in Nigeria to include on Saturday and Sunday for their working Days to ensure money is in circulation but POS vendors are still charging people #400 for #1000 now that money is in circulation. I believe dis is the time for them to spend the money they collected from people with high charges during the cashless policies that took over three weeks and some days in Nigeria. Our government do well 4 d ban of those banks for operating POS to steal money from citizens, I believe the government will also extend it to OPay and other online banking because, d way people money are Missing these days in online banking, I don't understand,and their network is not too good again.

[Belarge]

E dey good say Dem arrest the POS vendors because their own self don too much, Dem want use charge kill us, even as Dem say money don dey circulate small small everywhere, POS people still dey give us high charges, if Dem arrest them me I like am, atleast make Dem spend small of that money for station too,
As for opay matter shall, myself no trust opay right from the start, I get opay account but I no gree put money Inside, any online bank Dem no dey charge you for your transactions, instead Dem dey top your own money for you, I dey fear Dem,
And I dey see the way people too dey complain as opay don seize their money , omoh I dey fear, and I go also advice people not to use the opay again and make people wey get money there transfer their money commot, and make Dem kuku ban the opay

[CryptopreneurBrainboss]

Dis no be any misplaced priority and I dey fully in support of wetin EFCC do dem. If dem finish from that state make them enter another state because this people just dey rip us out of our hard earned money. The problem come be say their mouth dey together always and you can’t get it at a cheaper rate in another place. Na we naija citizens still dey do ourselves even when government wan help us. .

But wait oh, the POS people no force you to withdraw with them na, you for baff early morning leave everything we you supposed do for your house, carry yourself go bank go stand for queue to withdraw only 5k abi dem dun increase the limit self. This POS people dem they provide a service and to get that service you need pay na, I fit believe say some of them they buy the money from this bankers self or give bribe to get slots to get the money so no blame them, blame the banks for being too greedy. Also this POS people understand say there is more demand than supply as such they can take advantage of the situation to make some profits for themselves,

I no blame them for taking the advantages as majority of us for do the same if in the same situation, most not be pos business but if we get the opportunity wey them get, now our own go worst. My only anger na say majority of them over do the thing which wasn't nice. If them been dey charge #1 per #1k e for dey alright and we go understand say money dun scars. But this #300-500 hundred per #1k  na where dem no try but sha thank God funds dun dey come out small small. Soon I believe everywhere go dey alright.

[sokani]

Dis no be any misplaced priority and I dey fully in support of wetin EFCC do dem. If dem finish from that state make them enter another state because this people just dey rip us out of our  hard earned money. The problem come be say their mouth dey together always and you can’t get it at a cheaper rate in another place. Na we naija citizens still dey do ourselves even when government wan help us. .

Na good development say EFCC arrest these POS vendors because those people no get conscience. We no say them been dey buy the money from banks but the rate wey dem been the charge just dey too much, na over profit dey worry dem. Now wey e don be like say the money don dey circulate small small, some of them still dey charge 100-200 per 5k transaction for my area, while others dey 300-500 per 5k transaction. So the question be say the operators wey dey charge lesser, how dem dey take get their own cash? I really dey in support of the arrest, make EFCC arrest the all the greedy POS vendors.