Register With CAC On Or Before July 7, CBN Orders PoS Operators

Point of Sales (PoS) operators were on Tuesday, May 7, 2024, directed to complete registration with the Corporate Affairs Corporation (CAC) on or before July 7, 2024.

The order came from the Central Bank of Nigeria (CBN) during a meeting between Fintechs and the Registrar-General/Chief Executive Officer (CAC) Hussaini Magaji (SAN) in Abuja.

While addressing the meeting, the CAC boss maintained that the two-month timeline to register their agents, merchants, and individuals with the commission, was “in line with legal requirements and the directives of the Central Bank of Nigeria.”

According to Magaji (SAN) in a statement entitled ‘CAC, PoS OPERATORS AGREE TO TWO-MONTH DEADLINE TO REGISTER THEIR AGENTS AND MERCHANTS TO STRENGTHEN THE FINTECH INDUSTRY‘, he stressed that the action was equally backed by Section 863, Subsection 1 of the Companies and Allied Matters Act, CAMA 2020, and the 2013 CBN guidelines on agent banking.

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