Operatives of the Economic and Financial Crimes Commission (EFCC), on Saturday, arrested no fewer than 80 Point of Sales (PoS) operators suspected to be buying and selling Naira notes to the public at exorbitant interest rates.
They were picked up from different locations while conducting random raids in Akure, capital of Ondo State,
The officials reportedly raided Akure South and Akure North councils in the State, where the agents were arrested for selling Naira at exorbitant rates to residents.
After the raid, several POS operators have deserted their stands for fear of being arrested.
For weeks, some PoS agents have been buying cash from banks, and sell to customers at exorbitant rates.
Reports said the EFCC operatives stormed the popular Oja-Oba market along Oba Adesida road in Akure and arrested about 80 operators.
A source said: “The EFCC operatives have arrested about 80 PoS attendants in Oja Oba area. They will ask them to disclose the source of their cash and how much they are charging customers and also ask them to take them to the person that gave them the money.
“Some PoS attendants, who got the information beforehand, abandoned their stands and fled.
Another eyewitness said that one woman came to a stand while an agent was attending to customers, she asked the agent how much he charges on every one thousand Naira.
“As at the time the transaction was made, I saw the woman signal to some men, and that was how I knew they were EFCC officials and they whisked the agent away.
“But it is sad the way at which the PoS vendors exploit residents because they see members of the public as not having another option since banks are not helpful.
“The PoS agents are making too much gains. You can imagine charging N300 for each N1,000 transaction.”
He added: “I pray that the CBN should fulfill its promises of flooding the banks with money so that the public can be rescued from the extortion by the PoS vendors.”