Kakaki

By Afusat Agunbiade-Oladipo

Ilorin, Sept. 27, 2025 (NAN) The Kwara Association of Professional Point of Sale Agents (KAPPSA), has called on the Central Bank of Nigeria to mandate fintech companies and banks to equip POS terminals with cameras and introduce identity verification for transactions above ₦50,000 to curb electronic fraud.

Speaking at a news conference in Ilorin on Saturday, KAPPSA President, Opakunle Ridwan, said that one of the gravest challenges facing POS agents is fraudulent transactions involving stolen debit cards.

Ridwan explained that while banks and ATMs rarely face scrutiny when cash is dispensed from stolen cards, POS agents are often treated as culprits.

According to him, in many instances, months after a transaction, agents are accused, arrested, or even jailed because they cannot produce the identity of a customer.

He raised alarm over what he described as persistent gaps in Nigeria’s financial technology administration that leave POS operators vulnerable to fraud, liability, and systemic inefficiencies.

He said the country’s growing dependence on POS operators for financial inclusion is not being matched by adequate regulatory support, a situation that threatens the stability of the cashless economy.

He described this as unjust and called on the Central Bank of Nigeria to mandate fintech companies and banks to equip POS terminals with cameras and introduce identity verification for transactions above ₦50,000.

He said capturing customer images and National Identification Numbers would not only protect agents but also secure consumers and reduce the scale of electronic fraud in the system.

“Electronic fraud remains a pressing challenge in Nigeria. Data from the Nigeria Inter-Bank Settlement System (NIBSS), show that losses from such activities surged to more than ₦17 billion in 2023.

“With POS transaction volumes rising by over 40 percent in the same year, operators have become a major target for fraudsters”, the President said.

Another recurring problem, Ridwan continued, is the confusion created by unresolved transaction disputes.

Customers frequently experience what he described as “failed transactions” where their bank accounts are debited but the POS terminal records no payment,and instead of the banks taking responsibility, agents are forced to shoulder the blame and deal with irate customers.

He added that a transaction should be either successful or failed, never both, and urged the CBN to implement clearer dispute resolution protocols to protect both consumers and operators.

“In 2021 alone, the CBN received more than 200,000 complaints related to electronic payments, many of them linked to POS operations”, he said.

The President also used the medium to highlight the need for financial empowerment for its members, adding POS agents are critical players in Nigeria’s push toward financial inclusion, especially in underserved communities where banks are absent.

“Many agents, he said, are young entrepreneurs who put their own resources on the line daily, yet they lack access to affordable credit”, he stressed.

He appealed to government and financial institutions to provide soft loans under fair conditions, arguing that supporting POS agents should be seen not as charity but as an investment in Nigeria’s economy, job creation, and poverty reduction.

Ridwan concluded by pledging KAPPSA’s readiness to collaborate with regulators, banks, fintechs, and law enforcement in building a transparent and sustainable POS sector that works for all stakeholders.

By Afusat Agunbiade-Oladipo

The Elders Caucus of the All Progressives Congress (APC) in Kwara has resolved that the 2027 governorship ticket of the ruling party should go to Kwara north senatorial district in the interest of fair play, equity and justice.

The Chairman of the APC Elders Caucus, Mr Kunle Sulaiman, disclosed this during a news conference at the NUJ press centre in Ilorin on Friday.

Mr Sulaiman who was flanked by other members, said that the Kwara Central and Kwara South had spent 20 years and eight years, respectively, as governor in the state.

“You may wish to recall that on Monday, Nov. 21, 2022 at this same venue, this caucus addressed the press and made its stand known on the issue of zoning arrangements for the APC gubernatorial candidature that the then incumbent, Malam AbdulRahman AbdulRazaq from Kwara Central, be allowed to have another shot to complete two terms of eight years.

“Which would make Kwara Central senatorial district to have spent 20 years all together as chief executive of the state, while Kwara south senatorial district has also produced governor for eight years.

“In the same vein, we posit that it is in the interest of fair play, equity and justice that we members of the Kwara APC elders caucus, unanimously agreed that the next gubernatorial candidate for our great party should emerge from Kwara north senatorial district,”the Chairman said.

Sulaiman who commended Gov. AbdulRazaq for making them proud with his great performances across the state.

He also commended President Bola Tinubu for setting Nigeria on a recovery course from her dwindling economy.

Listing the governor’s developmental achievements across parts of the state, Sulaiman , however , regretted that, “some of these achievements have evoked some negative comments and reactions from some members of the opposition political parties.

“It is obvious that every developmental policy, programme and project, may pose initial but temporary discomfort,” he said.

He emphasized that developmental efforts of the government in Ilorin, the capital city, are in line with the Urban Renewal Project, under the New Ilorin City Master Plan.

“Therefore, we would like to advise opposition parties to display a sense of patriotism by supporting and joining hands with the laudable programmes of this administration for the progress of Kwara state,” he added.

He advised the residents and indigenes affected by the ongoing urban renewal drive of the governor to related with government agencies, rather than be used by the opposition to foment crisis.

“For those aggrieved members of the public, who might have complained on the effects of the ongoing Urban Renewal Programme, they are advised to seek redress through appropriate quarters of government, rather than allowing themselves to become agent of opposition”, he said.

He appealed to eligible voters in kwara who are yet registered and obtained voters card or whose voters card is lost or whom have relocated to the state to take advantage of the ongoing voters registration exercise by obtaining their voters card .