Human rights advocate Francis Nwapa has urged the Economic and Financial Crimes Commission (EFCC) to halt Point of Sale (POS) operators from purchasing naira from financial institutions and individuals, then reselling it to Nigerians at high rates. Nwapa also called on the EFCC to apprehend individuals within various financial institutions nationwide who facilitate the sale of naira to Nigerians within their own country. He condemned this practice as a severe form of naira exploitation and urged authorities to ensure that Automated Teller Machines (ATMs) operate effectively and efficiently across the nation. Nwapa made these demands in a recent post on his X account, emphasizing the responsibility of the EFCC to address the issue and cease the buying of naira by POS operators. He highlighted the ongoing challenges with bank ATMs, which have not fully recovered since the naira scarcity that emerged in 2023 due to the redesign policy implemented during former President Muhammadu Buhari’s tenure. This scarcity, initiated by the Central Bank of Nigeria (CBN) under the leadership of former Governor Godwin Emefiele, has left many Nigerians reliant on POS operators to access naira, albeit with additional charges.
Activist urges the anti-corruption agency, EFCC, to prevent point-of-sale (POS) operators from trading Naira with Nigerians within the nation.
