Over the weekend, officers of the Economic and Financial Crimes Commission (EFCC) detained 80 Point of Sales (PoS) terminal operators in Ondo State for their involvement in the buying and selling of naira notes.
The EFCC officials targeted PoS merchants who gave out the notes at exorbitant rates in a sting operation conducted in Akure, the capital of Ondo State, and in other local councils.
The operation, which took place largely in Akure South and Akure North Local Councils, saw anti-graft agents question vendors about where they acquired their money.
As word of the operation spread, several vendors in the Oba-Ile area of the state abandoned their stalls for fear of being detained.
Several PoS agents were accused of buying cash from banks and charging high fees to their consumers while selling the money to them.
