To cut the long story short, my question is, is POS business recognized by our financial institutions? or is it a legitimate business if not, how do you make it legitimate, I'm asking because recently I saw a tweet on twitter about a woman complaining that her account was blocked because someone transfer money into the account to make a withdrawal, sometimes you go to pos and transfer money to them using your phone and you will collect cash but in this case the person transferred N200,000 and the POS owner did the necessary requirement for such huge transaction by taking the information of the person as well as his picture but it was later discovered that the person is not the owner of the account that's why the POS owner's account was blocked and she was made to pay back the money, now to me I believe the woman is doing her business and whether someone account was use to pay for it is not her business because how was she supposed to know and more all over she followed due process but the only way she can be force to pay is if the POS business is illegal because I believe in Nigeria, anybody carrying out financial transactions without having license is illegal. Your opinions are welcome

ncpat:
To cut the long story short, my question is, is POS business recognized by our financial institutions? or is it a legitimate business if not, how do you make it legitimate, I'm asking because recently I saw a tweet on twitter about a woman complaining that her account was blocked because someone transfer money into the account to make a withdrawal, sometimes you go to pos and transfer money to them using your phone and you will collect cash but in this case the person transferred N200,000 and the POS owner did the necessary requirement for such huge transaction by taking the information of the person as well as his picture but it was later discovered that the person is not the owner of the account that's why the POS owner's account was blocked and she was made to pay back the money, now to me I believe the woman is doing her business and whether someone account was use to pay for it is not her business because how was she supposed to know and more all over she followed due process but the only way she can be force to pay is if the POS business is illegal because I believe in Nigeria, anybody carrying out financial transactions without having license is illegal. Your opinions are welcome

Yes, but sometimes risky