A Moniepoint agent, Olumide Remilekun Owolabi, has been arrested by operatives of the Zone Two Police Command, Onikan, over alleged N16.3 million Point of Sale (POS) fraud.

Owolabi was apprehended following a petition from one Raphael Alabi to the Assistant Inspector General (AIG) in charge of the zone, Ari Mohammed Ali.

It was gathered that Alabi bought a POS terminal from Owolabi in March not knowing that the seller had allegedly fraudulently manipulated the machine by adding a chip and creating an application on his mobile phone that gave him access to every transaction made on the terminal.

Alabi alleged that the suspect criminally withdrew and diverted into his personal account, N16,381,000 from the POS terminal between March 10 and July, thus causing the complainant to record huge losses.

Consequent to the petition, the AIG detailed operatives of the Zonal Monitoring Unit to discretely investigate the matter and it was discovered that transactions within the stated period were indeed diverted.

“On the strength of this, the suspect was arrested and he made confessional statements to the crime. Investigation is still on to unravel more facts. Members of the public are hereby advised to be mindful of the POS operators they patronise,” Ali said.