The Federal Government has warned that terrorist groups are increasingly using Point of Sale (POS) devices to collect ransom payments from victims, according to security officials.
The disclosure was made during a briefing on emerging financing methods used by armed groups operating in parts of northern Nigeria.
According to Director-General of the National Counter Terrorism Centre (NCTC), Adamu Laka, the use of POS terminals allows insurgents to move funds quickly and avoid physical cash transfers. The government noted that some agents are coerced into providing access to the devices, while others may be complicit.
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Security agencies say efforts are underway to track suspicious financial transactions and tighten oversight of electronic payment systems.
Authorities warned that disrupting terrorist financing remains critical to reducing kidnapping and insurgency nationwide.
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