The Economic and Financial Crimes Commission, (EFCC) has advised banks to operate their Point Of Sales (POS) services based on laid down rules and regulations.
In a statement released in Makurdi and signed by the Head, Public Affairs, Nwanyinma Okeanu, the agency said the EFCC was concerned over what it describes as “the arrant use of POS machines in the country.”
Asking banks to withdraw their POS from persons of questionable character, the Zonal Head in the state, Johnson Babalola who represented the Acting Chairman of the Commission, Ibrahim Magu, warned banks to ensure proper monitoring and strict compliance by those they give POS machines to operate on it’s behalf.
According to him, “the EFCC was having serious challenges with the banks giving POS machines to individuals with questionable characters and without proper documentation.”
The EFCC boss also noted that the withdrawal of POS machines from such persons would assist the EFCC in it’s work.
He further observed that, “On the issue of Post-No-Debit (temporary freezing of account), the EFCC has observed that some banks refused to follow the PND order and still pay out money from such accounts.”
The EFCC further pointed out that some bank staff were in the habit of notifying customers whose accounts were placed on Post-No-Debit, adding that the development was aiding and abetting crime and obstructing justice, instead of assisting the Commission as stipulated by law.
Magu therefore warned that the Commission would no longer tolerate the flaunting of it’s directives, “as culprits will be made liable” for such offences.
He however urged banks to always respond on time to the letters of investigations sent to them by the Commission as their response helps in speedy dispensation of cases.
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