POS Operators Transacting Above ₦500,000 will be Investigated – Police
The Nigeria Police force has said that it will clamp down on Point of Sale (POS) operators making transactions transaction above ₦500,000.
According to SP Bright Edafe, the Public Relations Officer of the Delta State Command, such transactions could potentially implicate operators in criminal activities, particularly kidnappings.
In a statement, SP Edafe sighted a case where a POS operator received a ransom payment of ₦4,000,000 from kidnappers, earning a mere ₦40,000 in profit.
He however cautioned POS Operators not be a tool for kidnappers to collect ransom, saying it would be traced to them.
My message to POS operators, transaction above 500k can get you into trouble. Dont be a tool for kidnappers to collect ransom. It must be traced to you. She received #4,000,000 ransom from kidnappers and her profit was just #40,000. Can you imagine? Be wise.”
The police emphasised the importance of vigilance and adherence to federal regulations, which impose strict limits on transaction amounts to prevent misuse by criminals. POS operators are urged to report any suspicious activities and ensure compliance with the guidelines to avoid legal repercussions.
