POS: POLICE ISSUES WARNING AGAINST TRANSACTIONS BEYOND N500,000
The Delta State Police Command has issued a stern warning to Point of Sale (POS) operators regarding transactions exceeding N500,000.
According to SP Bright Edafe, the Public Relations Officer of the Command, such transactions could potentially implicate operators in criminal activities, particularly kidnappings.
In a recent statement, SP Edafe highlighted a case where a POS operator received a ransom payment of ₦4,000,000 from kidnappers, earning a mere ₦40,000 in profit. “Don’t be a tool for kidnappers to collect ransom,” he cautioned. “It must be traced to you.”
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, you may argue that… pic.twitter.com/n7z7O7XcBC
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.
“Be wise,” SP Edafe advised. “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.”
The warning serves as a reminder of the critical role POS operators play in maintaining security and the potential consequences of neglecting regulatory measures.
More Stories
KADUNA STATE RECORDS SIGNIFICANT IMPROVEMENT IN WASSCE RESULTS
The West African Senior School Certificate Examination saw over 67% of pupils receive five credits or more, an increase...
DON JAZZY SUPPORTS VERYDARKMAN’S NGO WITH N100M DONATION
Social media star VeryDarkMan revealed that the ₦100 million donation to his recently founded non-governmental organization was made by...
INEC ANNOUNCES DATE FOR ANAMBRA STATE GOVERNORSHIP ELECTION
The date of the Anambra governorship election has been set by the Independent National Electoral Commission, or INEC....
INI DIMA-OKOJIE PRAYS FOR HUSBAND AMIDST CHALLENGING TIMES
Actress Ini Dima-Okojie composed an emotional letter to her spouse Abasi during his trying times. She proudly uploaded...
WIKE WILL NEVER LEAVE PDP, SAYS APC CHAIRMAN
FCT Minister Nyesom Wike is not a member of the APC, according to Dr. Tony Okocha, the chairman...
LAGOS GOVT ALERTS RESIDENTS OF OGUN RIVER BANKS OF WATER RELEASE FROM OYAN DAM
The Lagos State Government has issued a warning to residents and property owners along the banks of the Ogun...