In Delta State, Nigeria, the police have issued a stern warning to Point of Sale (POS) operators about the dangers of conducting transactions exceeding N500,000.
This cautionary message comes in light of recent criminal activities, particularly involving kidnappers who exploit these financial services to collect ransom payments.
SP Bright Edafe, the Command’s spokesman, emphasized the risks associated with such large transactions. He recounted a specific incident where a POS operator processed a ransom payment of N4,000,000 for kidnappers, earning only N40,000 in profit.
"Don’t be a tool for kidnappers to collect ransom. It must be traced to you," Edafe warned, highlighting the potential legal repercussions for operators involved in these transactions.
The police are urging POS operators to remain vigilant and adhere strictly to federal regulations that limit transaction amounts.
These guidelines are designed to prevent misuse by criminals and ensure public safety. "Be wise. You may argue that you are doing business, but before your lawyer will get you out, you may spend some time cooling off in prison," Edafe cautioned.
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