CBN arrests 4 Benue POS operators over high charges

The Central Bank of Nigeria (CBN), alongside security agents, on Tuesday, arrested four operators of Point of Sale (POS) over exorbitant charges in Makurdi, Benue State. Our correspondent reports that the CBN team, comprising personnel drawn from the Economic and Financial Crimes Commission (EFCC), Independent Corrupt Practices Commission (ICPC) and the police, clamped down on […]

The Central Bank of Nigeria (CBN), alongside security agents, on Tuesday, arrested four operators of Point of Sale (POS) over exorbitant charges in Makurdi, Benue State.

Our correspondent reports that the CBN team, comprising personnel drawn from the Economic and Financial Crimes Commission (EFCC), Independent Corrupt Practices Commission (ICPC) and the police, clamped down on the defaulters at the North Bank suburb.

The team, led by CBN’s Deputy Director, Harry Agbo, monitored the activities of the POS agents across North Bank, Wurukum, Modern Market, Wadata and High Level areas to ensure that the operators did not exploit the current situation in the country.

Agbo, who represented the Director, Financial Markets, of the CBN, Dr Angela Shere-Ejembi, led the team to various POS centres where it was observed that most of the agents did not have cash to dispense.

Merchants of Fake News Have Failed – Buni

Merchants of Fake News Have Failed – Buni

At the Modern Market, most of the POS centres were closed while the few carrying out business dispensed old naira notes while charging customers N300 for a N10,000 withdrawal.

However, the four operators arrested were found to be charging customers between N2,000 and N3,000 for a N10,000 new notes withdrawal.

Meanwhile, the banks in the state have stopped receiving old naira notes, with only a few of them dispensing new notes in limited quantities.