Transactions Above ₦500,000 Can Get You In Trouble – Police Warns POS Operators

The Delta State Police Command has issued a serious warning to Point of Sale (POS) operators about the risks associated with transactions surpassing ₦500,000.

The Public Relations Officer for the Command, SP Bright Edafe, stated that such high-value transactions could link operators to criminal activities, particularly kidnappings.

In a recent statement, SP Edafe recounted an incident involving a POS operator who processed a ransom payment of ₦4,000,000 from kidnappers, resulting in a mere ₦40,000 profit for her.

“Don’t be a tool for kidnappers to collect ransom. It must be traced to you,” he cautioned.

“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,” 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,” he added.

The police stressed the importance of vigilance and compliance with federal regulations, which set strict limits on transaction amounts to deter misuse by criminals.

POS operators are encouraged to report any suspicious activities and ensure they adhere to these guidelines to avoid potential legal consequences.