Register With CAC Before July 7, CBN Orders PoS Operators

All point-of-sale operators in the country have been ordered to register their businesses with the Corporate Affairs Commission (CAC) in two months.

The Central Bank of Nigeria (CBN) gave the order after a meeting between Fintechs and the Registrar-General/Chief Executive Officer, CAC, Hussaini Magaji (SAN) in Abuja on Monday.

According to the CAC boss, the two-month timeline for the registration, which will expire on July 7, was not targeted at any groups or individuals but was “in line with legal requirements and the directives of the Central Bank of Nigeria.”

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The statement read: “The Corporate Affairs Commission and Fintech companies in Nigeria, better known as PoS operators, have agreed to a two-month timeline to register their agents, merchants, and individuals with the CAC in line with legal requirements and the directives of the Central Bank of Nigeria.

“The Corporate Affairs Commission and Fintech companies in Nigeria, better known as PoS operators, have agreed to a two-month timeline to register their agents, merchants, and individuals with the CAC in line with legal requirements and the directives of the Central Bank of Nigeria.

“The agreement was reached today during a meeting between Fintechs and the Registrar-General, CAC, Hussaini Ishaq Magaji, in Abuja.”