POS wahala: EFCC arrests 80 PoS vendors in Ondo, CBN Ban Banks 4rm Operating PoS

CryptopreneurBrainboss

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Quote from: Coyster on April 03, 2023, 07:37:21 AM

Baba nothing about government don confuse me like this policy, lol. I mean, i no fit guess the reason for its implementation, so many people they bring their ideas and all of them they make sense, even the one you talk now make sense. When the policy land, we been think say na make election they credible, people been even talk say PMB no like Tinubu, lol, after the election we come find out say no be so oh, but then again we go come remember say na APC governors been they fight the policy pass, if it was to help them, why them come they fight am like mad.

No be lie my brother, na this particular nnarraybeen sell pass as since tinubu no be get support among the youths, we believe say Buhari get our best interest not knowing that Asiwajydeg go direct to INEC and not all this other small holes wey the giveenmubeen dey try cover abi dem follow dey I. With the plan wey be say dem go convince is say Asiwaju wan rig the election with vote buying so we no go out eye for INEC mata. After the election, another narrative been come out oh wey dem say the CBN governor was working with Atiku. Say the Vice of Atiku was from the CBN governor side and them follow work together to frustrate Asiwaju to no get money meanwhile Atiku been dun get enough bags ready to spend.

Quote from: Dr.Bitcoin_Strange on April 03, 2023, 03:50:48 PM

The EFCC is not supposed to be against POS vendors alon but rather against bankers who are selling money.

CryptopreneurBrainboss, a lot of people in the country are just fighting for their selfish interests. Some minor issues are not just from the government but from individuals who really think they should take advantage of the office they are in. Sometimes I just wonder if there could be a solution to this selfish interest that a lot of citizens are really only concerned about.

You no lie at tall with this your story e come be like na we be our own problem self. Our people say, if oil dun rub the upper side of the lips, nothing go make dat person close mouth unless the oil go touch the down side of the lips and na wtin dey happen be that. Even the EFCC wey dey wake to dey arrest no dey clean so how dem wan go dey attack those wey no how far if them do, dem fit no get anything but you see this POS people dem dey arrest so, chopping go come out and na their plans all along.

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Quote from: CryptopreneurBrainboss on March 26, 2023, 06:18:24 AM

I dey understand say this people dun confess say dem dey buy this money from banks but no be the same banks wey dey say dem no get cash. Shey una dey see the country we dey inside, no be everything wey dey blame government. Shall how una see the development, e good as EFCC dey go after this POS businesses or you dey feel say na another misplaced priority?

misplaced priority.
The goal of any business is to make a profit rather than a loss. In a situation where a POS vendor goes to buy money at the bank, what is expected of them? Definitely, they would also want to make a profit. I'm not sure how much it may have cost them to buy the money from the bank, but if a POS vendor goes to the bank to buy $1000 and is charged $10, the vendor is only left with $990, and to cover his cost and make a profit, he would need to charge customers more than usual so that they get at least $1005 (or $1010) and make a profit of $5. POS vendors are trying to make their profit, while bankers who are selling the money are supporting the corruption that is still preached about. The EFCC is not supposed to be against POS vendors alon but rather against bankers who are selling money.

CryptopreneurBrainboss, a lot of people in the country are just fighting for their selfish interests. Some minor issues are not just from the government but from individuals who really think they should take advantage of the office they are in. Sometimes I just wonder if there could be a solution to this selfish interest that a lot of citizens are really only concerned about.

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Quote from: CryptopreneurBrainboss on April 02, 2023, 03:45:49 PM

(abi na disguised strategy wey dem use to stay in power) because dem still rig the election from the top so maybe them make the economy unfavorable so other politicians no go see cash use work and them go get free pass.

Baba nothing about government don confuse me like this policy, lol. I mean, i no fit guess the reason for its implementation, so many people they bring their ideas and all of them they make sense, even the one you talk now make sense. When the policy land, we been think say na make election they credible, people been even talk say PMB no like Tinubu, lol, after the election we come find out say no be so oh, but then again we go come remember say na APC governors been they fight the policy pass, if it was to help them, why them come they fight am like mad. The whole matter they very confusing, lol, but thank God say cash don they flow back into the economy small small, but based on say government first wait make protests happen, destruction of banks, loss of a few lives, collapse of microeconomics, etc, before them and CBN act, show say them no they ever care for the common man for this country.

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Quote from: Coyster on April 01, 2023, 12:24:30 PM

Baba na everything i go blame government oh, every problem stems from them, na their evil and bad policies they give evil and greedy Nigerians the opportunity to hijack it and use it to their advantage. You wan run cashless/withdrawal policy when you never ready, the implementation they like when SS3 senior prefect they implement new rules to follow for school. Naija policy formulation (the Executive) arm of government they very clueless.

Making sense as the government demselves no try for this wan wey dem do. Me I believe say this their policy no been pure form day 1, like them no be wan really bring cashless policy. Them supposed dun do their research and see say e no go work for the country but their selfish propaganda na him make them continue with the policy and e still no work in their favor (abi na disguised strategy wey dem use to stay in power) because dem still rig the election from the top so maybe them make the economy unfavorable so other politicians no go see cash use work and them go get free pass.

Quote

The poS operators had to buy the money from big businesses and bank managers, and i know selling the Naira is a crime, but na evil policy wey precipitate that action.

Why dem no dey go after the bankers then, why them dey go after the weaker side involved in the business, dem for go after the bankers so this kind thing no go repeat itself again but instead them dey go for the common man wey no sabi him right to fight for himself as them go use power use intimidate am. Once again our law enforcement agency dey fail us.

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Opay they fully legal and licensed by the CBN and nobody they close them, neither are they running any illegal service, no mind some funny Nigerians wey they like spread fake news, sometimes i wonder wetin some of them they gain by spreading fake news. See the link wey CBN debunk the news are being fake: https://www.premiumtimesng.com/news/more-news/589981-cbn-debunks-viral-news-suspending-opay-palmpay.html

Quote from: CryptopreneurBrainboss on March 26, 2023, 06:18:24 AM

Shey una dey see the country we dey inside, no be everything wey dey blame government.

Baba na everything i go blame government oh, every problem stems from them, na their evil and bad policies they give evil and greedy Nigerians the opportunity to hijack it and use it to their advantage. You wan run cashless/withdrawal policy when you never ready, the implementation they like when SS3 senior prefect they implement new rules to follow for school. Naija policy formulation (the Executive) arm of government they very clueless. You see say cashless policy no work, you had to wait for protests, destruction of banks and govt properties, hunger and frustration, threat of strike by NLC, etc, before you go act, no care whatsoever for the wellbeing of Nigerians. The poS operators had to buy the money from big businesses and bank managers, and i know selling the Naira is a crime, but na evil policy wey precipitate that action.

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Quote from: Asiska02 on March 28, 2023, 07:33:01 PM

Dis no be any misplaced priority and I dey fully in support of wetin EFCC do dem. If dem finish from that state make them enter another state because this people just dey rip us out of our hard earned money. The problem come be say their mouth dey together always and you can’t get it at a cheaper rate in another place. Na we naija citizens still dey do ourselves even when government wan help us. .

Na good development say EFCC arrest these POS vendors because those people no get conscience. We no say them been dey buy the money from banks but the rate wey dem been the charge just dey too much, na over profit dey worry dem. Now wey e don be like say the money don dey circulate small small, some of them still dey charge 100-200 per 5k transaction for my area, while others dey 300-500 per 5k transaction. So the question be say the operators wey dey charge lesser, how dem dey take get their own cash? I really dey in support of the arrest, make EFCC arrest the all the greedy POS vendors.

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Quote from: Asiska02 on March 28, 2023, 07:33:01 PM

Dis no be any misplaced priority and I dey fully in support of wetin EFCC do dem. If dem finish from that state make them enter another state because this people just dey rip us out of our hard earned money. The problem come be say their mouth dey together always and you can’t get it at a cheaper rate in another place. Na we naija citizens still dey do ourselves even when government wan help us. .

But wait oh, the POS people no force you to withdraw with them na, you for baff early morning leave everything we you supposed do for your house, carry yourself go bank go stand for queue to withdraw only 5k abi dem dun increase the limit self. This POS people dem they provide a service and to get that service you need pay na, I fit believe say some of them they buy the money from this bankers self or give bribe to get slots to get the money so no blame them, blame the banks for being too greedy. Also this POS people understand say there is more demand than supply as such they can take advantage of the situation to make some profits for themselves,

I no blame them for taking the advantages as majority of us for do the same if in the same situation, most not be pos business but if we get the opportunity wey them get, now our own go worst. My only anger na say majority of them over do the thing which wasn't nice. If them been dey charge #1 per #1k e for dey alright and we go understand say money dun scars. But this #300-500 hundred per #1k na where dem no try but sha thank God funds dun dey come out small small. Soon I believe everywhere go dey alright.

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E dey good say Dem arrest the POS vendors because their own self don too much, Dem want use charge kill us, even as Dem say money don dey circulate small small everywhere, POS people still dey give us high charges, if Dem arrest them me I like am, atleast make Dem spend small of that money for station too,
As for opay matter shall, myself no trust opay right from the start, I get opay account but I no gree put money Inside, any online bank Dem no dey charge you for your transactions, instead Dem dey top your own money for you, I dey fear Dem,
And I dey see the way people too dey complain as opay don seize their money , omoh I dey fear, and I go also advice people not to use the opay again and make people wey get money there transfer their money commot, and make Dem kuku ban the opay

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I like d way EFCC is going after POS vendors because, upon the instructions federal government game to all banks in Nigeria to include on Saturday and Sunday for their working Days to ensure money is in circulation but POS vendors are still charging people #400 for #1000 now that money is in circulation. I believe dis is the time for them to spend the money they collected from people with high charges during the cashless policies that took over three weeks and some days in Nigeria. Our government do well 4 d ban of those banks for operating POS to steal money from citizens, I believe the government will also extend it to OPay and other online banking because, d way people money are Missing these days in online banking, I don't understand,and their network is not too good again.

Asiska02

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Quote from: CryptopreneurBrainboss on March 26, 2023, 06:18:24 AM

Still on the PoS matter; "Over 80 Point of Sales (PoS) vendors in Akure, the Ondo State capital, have been arrested by operatives of the Economic and Financial Crimes Commission (EFCC) for allegedly buying and selling money to individuals with higher interest. you fit find the story here; https://thenationonlineng.net/efcc-arrests-80-pos-vendors-in-ondo/". I dey understand say this people dun confess say dem dey buy this money from banks but no be the same banks wey dey say dem no get cash. Shey una dey see the country we dey inside, no be everything wey dey blame government. Shall how una see the development, e good as EFCC dey go after this POS businesses or you dey feel say na another misplaced priority?

Dis no be any misplaced priority and I dey fully in support of wetin EFCC do dem. If dem finish from that state make them enter another state because this people just dey rip us out of our hard earned money. The problem come be say their mouth dey together always and you can’t get it at a cheaper rate in another place. Na we naija citizens still dey do ourselves even when government wan help us. .

Marykeller

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I believe sae, no be the only state wey you mention(Ondo) wey EFCC d arrest POS people. For my side state also, EFCC d arrest POS people join. Em be like wetin the EFCC wan do throughout the federation na to go after POS people cos they see how those set of people do Nigerians forty(wayo). Check out Nigerians buying their own money with a high-cost price. You can imagine nah.

Concerning the fact sae bank d involve for the sale of naira notes. I been tell my friends sae, as far as bank d involve for this sale of naira notes, em go d hard for our naira notes to circulate as em suppose to. We Nigerians d mean when we d in control of some certain things.

To get things working in this country back, em need strong laws and actions to be taken to get things right. I support and like this move wey EFCC d take to arrest POS people. At least em go curtail how dem d sell the naira notes without fear

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Quote from: CryptocurencyKing on March 27, 2023, 12:32:04 PM

Quote from: CryptopreneurBrainboss on March 26, 2023, 06:18:24 AM

Na waa o, watin sup wth Opay na... Opay way popular na em no mak d list... I con dey see Fintech companies way I nevr evn sight dere logo or hear dere name b4 cef.
Anyway, na 17 companies dem say dem approv bt, na only 15 company way dey dat list frm watin I count. E be lik dem purposefully remov some. E fit b business strategy by competitors, to pay say mak dem nevr publish som companies so, dem fit shake dere customers leg.
Dem 4 try declare shah, mak persn knw watin e dey do. Na why, e no soft 2 leave big money 4 dis mobile fintech companies.

I no surprise say I no see opay on the list sake of say opay done already get issue for CBN side and the fact that opay have been used by many scammers since opay happens to be one of the earliest fin tech company to explore the 9Ja digital banking, na boiz cast opay and the major issue against opay are.

1: their involvement in the hacking of clients' phonebooks and the unauthorized contacting of victims' contacts and declaring them as criminals simply because they defaulted on their loan repayments.

2: opay early staff explore and abused a lot of vulnerabilities in the fintech system and sweep away customers' balance.

-This and many more are the cases standing against them with the CBN, and if care is not taken opay will be forced out of the Nigerian market but I doubt that will happen since the license are not threatened yet.

RockBell

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despite it being late I think they really need to punish do guys for buying and selling cash is very wrong a currency that is produced in our own country, despite this news pos people have to refuse to go back to their normal withdrawal charges, I withdrew today is still hundred nairas per 1000 naira, but the government trying to ban pos is not really ideal is not everyone that has to assess to banks so I think they should allow them to operate and opay not been listed still surprised I love there mode of lightening operation.

CryptocurencyKing

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Quote from: CryptopreneurBrainboss on March 26, 2023, 06:18:24 AM

Na waa o, watin sup wth Opay na... Opay way popular na em no mak d list... I con dey see Fintech companies way I nevr evn sight dere logo or hear dere name b4 cef.
Anyway, na 17 companies dem say dem approv bt, na only 15 company way dey dat list frm watin I count. E be lik dem purposefully remov some. E fit b business strategy by competitors, to pay say mak dem nevr publish som companies so, dem fit shake dere customers leg.
Dem 4 try declare shah, mak persn knw watin e dey do. Na why, e no soft 2 leave big money 4 dis mobile fintech companies.

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Quote from: CryptopreneurBrainboss on March 26, 2023, 06:18:24 AM

I dey understand say this people dun confess say dem dey buy this money from banks but no be the same banks wey dey say dem no get cash. Shey una dey see the country we dey inside, no be everything wey dey blame government. Shall how una see the development, e good as EFCC dey go after this POS businesses or you dey feel say na another misplaced priority?

Normally na this kind things i know say go dey sup because citizens dey sabi take advantage of each other for this country cun still dey blame government. We nor dey help ourselves. Since the money scarcity wey POS operators observe say the thing dey to their advantage, and some kind people for banks sef dey benefit somehow as dem go dey sell the money for only POS people, I know say even after the government go release the money, these banks go hoard am make dem still fit dey sell small.

Many people dun talk say dem nor go forgive all this POS people as dem dey do wicked this period with their business. The thing nor go fit remain like this forever, hopefully in a month's time, this matter go dun pass.

SmartGold01

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E good for them, those people no get conscience at all because government been don talk say make those people no charge any body above 200 for 10,000 and 100 for 5000 naira, 300 for 15,000. Before this arrest there was a memo or a written notes to say all PoS operators should stops the exorbitant fees and any PoS operator caught doing so they should report them to CBN and a call and WhatsApp line was issued across if any violate the rules so i guess that was the reason the arrest of those operators.

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Quote from: CryptopreneurBrainboss on March 26, 2023, 06:18:24 AM

I dey look through those name and I no sew Opay yet I dey see their Pos everywhere abi make person look through so we know where we stand. See as the news go;

Quote from: CryptopreneurBrainboss on March 26, 2023, 06:18:24 AM

Still on the PoS matter; "Over 80 Point of Sales (PoS) vendors in Akure, the Ondo State capital, have been arrested by operatives of the Economic and Financial Crimes Commission (EFCC) for allegedly buying and selling money to individuals with higher interest. you fit find the story here; https://thenationonlineng.net/efcc-arrests-80-pos-vendors-in-ondo/". I dey understand say this people dun confess say dem dey buy this money from banks but no be the same banks wey dey say dem no get cash. Shey una dey see the country we dey inside, no be everything wey dey blame government. Shall how una see the development, e good as EFCC dey go after this POS businesses or you dey feel say na another misplaced priority?

I support EFCC, this will make the news spread much faster because if they go about arresting or closing banks first, The bank will try not to let the public known about it (No organisation will want to damage their image) but in the case of the pos vendors, Citizens are seeing them and will continue to report them till they change from their high rate.There will also be fear in any bank Managers and pos vendors heart, both parties will not think of buying money. Aside from buying from the bank, Pos vendors do buy money from traders and so this is the best way to stop their over high rate

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Quote from: CryptopreneurBrainboss on March 26, 2023, 06:18:24 AM

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I dey understand say this people dun confess say dem dey buy this money from banks but no be the same banks wey dey say dem no get cash. Shey una dey see the country we dey inside, no be everything wey dey blame government. Shall how una see the development, e good as EFCC dey go after this POS businesses or you dey feel say na another misplaced priority?

For me, I see this as another misplaced priority, because the people who were supposed to be arrested are those bank managers who sold the money to P.O.S agents rather than loading it on ATM, making it accessible to customers. Because in as much as these P.O.S agents did charge exorbitant price due to cash scarcity, they did actually play a bigger role helping the poor masses access cash when our banks failed us all with no cash and even poor networks for internet transfer.
So in conclusion, I will love to say that this whole issue of money palava can be resolve by only two people in this country, namely "the president & CBN governor, of which that has had no business to do with stopping other banks from operating p.o.s agent

Merit.s

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EFCC try to catch those POS operators when feel say them go just dey extort people from their hard earned money. My problem be say why them no go arrest those banks wey this PoS operators dey buy the money from. When this selling money thing serious I still hear say EFCC go arrest some bank managers. At least this go be lesson for people say when government say no do like this,make we obey law. Some people wey dey disobey government law get government back up but if you no get and you go follow the one wey get violate law,na you go use your head carry am. I dey very sure say government don do this announcement before EFCC Cary out action. Let a better Nigeria start from me and you.

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Quote from: CryptopreneurBrainboss on March 26, 2023, 06:18:24 AM

Abeg wetin dey happen with PoS, na so so dem news I just dey see for everywhere for my timeline. Few days ago I read say CBN dun ban banks from operating POS and dem dun Approves 17 Companies As Mobile Money Operators In Nigeria. I dey look through those name and I no sew Opay yet I dey see their Pos everywhere abi make person look through so we know where we stand. See as the news go;

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CBN Ban Banks From Operating PoS, Approves 17 Companies As Mobile Money Operators In Nigeria
Read more here: https://crossriverwatch.com/2023/03/cbn-ban-banks-from-operating-pos-approves-17-companies-as-mobile-money-operators-in-nigeria/amp/

Due to the recent hiccups experienced by bank customers and their inability to use mobile apps and other digital touchpoints, Nigerians have begun the search for alternatives as fintech firms have taken over the ecosystem and provided better experiences.These licensed mobile operators have provided relief to many Nigerians at the time of unprecedented transaction failures.

The mobile money operators offer incentives such as zero transfer charges and daily rewards to customers. Many customers on these platforms are concerned about the legality of the platforms and wonder if they are authorised or licensed to operate in Nigeria. The worries have prompted the apex bank to draw up a list of authorised operators in the financial ecosystem

Still on the PoS matter; "Over 80 Point of Sales (PoS) vendors in Akure, the Ondo State capital, have been arrested by operatives of the Economic and Financial Crimes Commission (EFCC) for allegedly buying and selling money to individuals with higher interest. you fit find the story here; https://thenationonlineng.net/efcc-arrests-80-pos-vendors-in-ondo/". I dey understand say this people dun confess say dem dey buy this money from banks but no be the same banks wey dey say dem no get cash. Shey una dey see the country we dey inside, no be everything wey dey blame government. Shall how una see the development, e good as EFCC dey go after this POS businesses or you dey feel say na another misplaced priority?

Omo those matter make sense oh, I like as them nab them for that crime wey be to dy buy our own currency but if nah to stop POS operation hmm, e no make sense at all nah to just circulate money full we yonda make e dy as e dy before with normal charges with that one e go make sense. Me I tire for this plenty big big charges all in the name of I buy moni at higher rate, na wa.
EFCC try but make them no too carry the matter for head make something no go spoil pass as e dy now, I know how them sabi over do, but kudos to them but make them take am easy biko.

Topic: POS wahala: EFCC arrests 80 PoS vendors in Ondo, CBN Ban Banks 4rm Operating PoS (Read 206 times)