The House of Representatives yesterday directed its relevant committees to invite the Central Bank of Nigeria (CBN) governor, managing directors of commercial banks and other financial institutions using point of sale (POS) services......Read The Full Article>>.....Read The Full Article>>
It said the bank experts and chiefs need to find solutions to the challenges POS users face across the country.
The directive of the House followed a motion by John Okafor (APC, Imo) on the need to implement verifiable documentation of POS users and fund recipient identity across the country.
Okafor said the increasing challenges posed by the undocumented identities of POS users and fund recipients in Nigeria had caused fraudulent activities within the financial system.
