EFCC issues fresh warning to local PoS operators

Speaking during an engagement with the Association of Mobile and Bank Agents of Nigeria (AMBAN) on Wednesday, May 7, in Kaduna, the Acting Director of the EFCC Kaduna Zonal Directorate, Bawa Kaltungo, emphasised the need for operators to align with Central Bank of Nigeria (CBN) guidelines.

“The issue of KYC must be taken seriously by all PoS operators,” Kaltungo said, speaking on behalf of EFCC Chairman, Ola Olukoyede.

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He added that PoS agents must be aware of their susceptibility to fraudulent activities and the need to avoid being used by criminals.

Kaltungo commended AMBAN for initiating the engagement and called for stronger collaboration with the EFCC in the fight against money laundering and related financial crimes.

“We are ready to work with you to sanitise the financial environment,” he told the association members.

Highlighting the risks of operating in the PoS sector, AMBAN Chairman Mohammed Bala disclosed that the association has developed a digital directory of its members for better identification and regulation.

“To protect both our members and the public, we’ve created a website where all members are registered and verifiable,” Bala said.

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The EFCC’s renewed advisory comes amid increasing concerns about the use of PoS terminals for illicit transactions, especially in rural and underserved areas where financial monitoring is weaker.

The agency reiterated its commitment to enforcement while encouraging voluntary compliance through education and collaboration.