Olukoyede Warns POS Operators to Stop Aiding Fraudsters

The Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Ola Olukoyede has warned Point of Sale, PoS operators in the country, to desist from aiding fraudsters and money launderers in perpetrating financial crimes, noting that POS operators have become complicit in the commission of financial crimes, terrorist financing, ransom payments and money laundering.
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He gave the warning on Wednesday, September 16, 2026, when the delegation of the Association of Mobile Money and Bank Agents in Nigeria, AMMBAN, led by its National President, Oti Obioha paid a courtesy visit to the Commission`s Headquarters.

Olukoyede, who spoke through his Chief of Staff, Commander of EFCC, CE Michael Nzekwe observed that AMMBAN needed to strengthen itself as it presently lacks the structure and framework to curb financial crimes associated with the business the members do, thus, making it possible for fraudsters to take advantage of their POS machines.

“We have realized that the issues of money laundering, terrorist financing, and even ransom payments are made mostly from POS machines. Your association needs to do more, by coming up with a structure and a comprehensive framework that will have records of all your operators, so that during the course of investigation, we will be able to trace, monitor and have records that can aid us.

My question is, what is the impact of your association on the members? Do you train your members? Do you have records of the address of your members? I think you need to have more awareness and training for your members. There are even some POS operators who are actually fraudsters; they aid, conspire, give out information and abet fraudsters. Most times, in the course of investigation, when you find out that money was laundered through a POS operator, by the time you bring them in, they won’t even know the person who sent the money and who withdrew it-no records of the transactions-and no one is asking questions.

You need to put your house in order and do more,” he said.
The EFCC boss urged the association leaders to task their members on having financial records of every transaction and in having a record of their members across the nation and expressed the readiness of the Commission to work with members of the association in the areas of training, awareness creation and information sharing.

On his part, Obioha appreciated the Commission for granting the association the opportunity for the visit, stating that the activities of the members have a lot of financial implication which will involve close partnership with the EFCC.

“We deem it fit to present ourselves to help and work with the EFCC in preventing money laundering and other kinds of fraud. We are at the grassroots and we observe that your institution is always inviting our members, so we wish we can have a partnership that can see to the training of our members on some of the issues like financial thresholds and the risks involved in some of our operations.

EFCC

So, we are here to help you curb the rate of fraud in the business we do.
“We want to collaborate in the areas of training, because most of our agents don’t know the rules of our operations.

So, we need to partner in creating awareness,” he said.
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EFCC Arraigns Idris Gana Mohammed for Alleged N6.8m Fraud in Abuja

The Abuja Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, on Wednesday, September 16, 2026, arraigned one Idris Gana Mohammed before Justice A M Abdullahi of the High Court of Federal Capital Territory, Maitama, Abuja.
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The defendant was arraigned on a one- count charge bordering on criminal misappropriation and obtaining money by false pretence to the tune of N6, 850,000.00 (Six Million, Eight Hundred and Fifty Thousand, Naira only ).

Count one of the charge reads. “That you Idris Gana Mohammed sometimes between 10th and 13th June 2026, at Abuja, within the jurisdiction of this honorable court, dishonestly converted to your personal use the aggregate sum of N6, 850,000.00 (Six Million, Eight Hundred and Fifty Thousand only), being payment for a black Toyota Camry from Ampatech Nigeria Limited and hereby committed an offence contrary to Section 308 of Panel code law of the FCT and punishable under Section 309 of the same Act.”

The defendant pleaded not guilty when the charge was read to him, prompting the prosecution, G.G Gajere to ask the court for commencement of trial.

Defence counsel, Ibrahim Jibril, informed the court that he just filed a motion for bail and served the prosecution. He also made an oral application for bail

After hearing from both counsel, Justice Abdullahi adjourned the case till September 24, 2026 for commencement of trial and ordered that the defendant be remanded in Kuje Correctional Center.

EFCC

The defendant was arrested based on the claims of a petitioner, Mohammed Ahmed Patigi of Ampatech Nigerian Limited of an alleged fraud of N6, 850,000.00 (Six Million, Eight Hundred And Fifty Thousand) meant to purchase a black Toyota Camry.

The defendant neither delivered the car nor returned the money to the petitioner.
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EFCC Arrests Managing Director for Alleged N128m Land Scam in Enugu

Operatives of the Enugu Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, have arrested one Basil Iwoba Ochili, Managing Director, Debasilio Construction and Estate Development Limited, for allegedly using the company for fraudulent activities, including obtaining by false pretence to the tune of N128, 000, 000. 00 (One Hundred and Twenty-eight Million Naira).
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Ochili was arrested based on claims of a petitioner alleging that sometime in September, 2022, he falsely presented himself as the owner of five plots of land situated beside Anambra State Secretariat by Stamford Hotel, Aroma junction, Awka, Anambra State, and falsely offered it for sale.

Relying on the suspect’s representation, the petitioner purchased the said plots in the sum of N128, 000, 000. 00 (One Hundred and Twenty-Eight Million Naira), which was paid into the suspect’s company account. However, he was unable to take possession of the land

Preliminary investigations showed that the suspect knew that the said land encroached on Anambra State Government Secretariat’s land but went further to sell the same to the petitioner. Instead of refunding the petitioner’s money, the suspect offered him two dud cheques

EFCC

Further preliminary investigations showed that the suspect used part of the money to settle his debts and his company, Debasilio Construction and Estate Development Limited, has never been tax compliant.

The suspect will be charged to court as soon as investigations are concluded.
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