CAC Extends Business Registration For PoS Operators in Nigeria to September
The Corporate Affairs Commission (CAC) has extended the deadline for registration of all Point of Sale Operators (PoS) in Nigeria, to September 5, 2024.
This was announced by the commission in a statement signed by its management and posted on its Facebook page on Saturday, announcing a 60-day extension.
The CAC disclosed that the extension was to give ample time to operators particularly those in remote areas who might have encountered network challenges to register and continue with their businesses.
The statement reads,
“The Corporate Affairs Commission wishes to notify Fintech Operators also known as Point of Sales Operators that the initial deadline of 7th July 2024 given for the registration of sole Agents, Super Agents, and Agents has been extended for sixty days beginning from 7th July 2024 to the 5th September 2024.
“This is to give sufficient time to Operators particularly those in remote areas who might have encountered network challenges to so register and continue with their businesses.
Operators who fail or refuse to register at the end of the extended deadline run the risk of losing such businesses and prosecution for aiding and abetting criminal activities.”
Recall that two months ago, the CAC announced that PoS agents of major fintechs in Nigeria including OPay, Palmpay, and Moniepoint, among others, have been given a deadline of July 7, 2024, to register their business.
The Registrar-General of the commission Hussaini Magaji, who announced this said this was the agreement with the PoS operators after a meeting in Abuja.
According to him, the registrations align with the legal requirements and the directives of the Central Bank of Nigeria, to safeguard the businesses of fintechs and customers and strengthen the economy.
Source: Punch
