EFCC accuses Banks and POS operators of colluding to limit ATM cash availability

The Economic and Financial Crimes Commission (EFCC) has accused banks of colluding with Point-of-Sale(POS) operators to limit cash availability at Automated Teller Machines(ATM).

According to the EFCC, it amounts to financial illegality for POS operators to possess huge cash from banks at the expense of ATMs.

The anti-graft agency disclosed this via its official X page on Saturday, May 11, 2024.