Only 20% of POS operators registered – EFCC reveals investigation of 200 companies

The Chairman of the Economic and Financial Crimes Commission, EFCC, Olanipekun Olukoyede, has disclosed that investigations into 200 companies referred to the committee by the Corporate Affairs Commission, CAC, person uncovered important findings.

Olukoyede made the disclosure connected Thursday portion receiving the CAC Board, led by its Chairman, Ibrahim M. Ida, during a courtesy sojourn to the EFCC office successful Abuja.

During the visit, Senator Ida expressed interest that lone astir 20 per cent of Point of Sale, POS, operators crossed the state are registered with the CAC, contrary to the provisions of the Companies and Allied Matters Act, CAMA, 2020 and the Central Bank of Nigeria’s Agent Banking Regulations, 2026.

He said emerging grounds indicates that proceeds of transgression activities, including ransom payments from kidnapping cases, are sometimes routed done unregistered POS terminals.

According to him, the concern underscores the request for stronger collaboration betwixt the 2 agencies to safeguard Nigeria’s fiscal system.

The CAC president projected 3 cardinal areas of concern with the EFCC, including information and quality sharing connected suspicious companies...