CBN Gives Pos Operators Ultimatum To Register With CAC

All point-of-sale operators in the nation are required by the Central Bank of Nigeria (CBN) to register their companies with the Corporate Affairs Commission (CAC) within the next two months.

This came to light during a meeting on Monday, May 7, in Abuja, between Fintechs and Hussaini Magaji (SAN), the Registrar-General/Chief Executive Officer, CAC.

The head of the CAC stated that the registration’s two-month period, which ends on July 7, was “in line with legal requirements and the directives of the Central Bank of Nigeria” and was not intended to target any particular group or person.

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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.