CAC Inaugurates Centre For Registration Of POS Operators Ahead Of July Deadline

The Corporate Affairs Commission (CAC) has just set up a new centre exclusively for the “bulk registration” of point of sale (POS) operators in Nigeria.

This comes after the Federal Government mandated all PoS operators in the country to register their businesses with the Corporate Affairs Commission (CAC) before July 7, 2024.

The Registrar-General and CEO of CAC, Hussaini Magaji inaugurated the centre situated at the commission’s FCT Zone 5 office.

This move comes after a recent meeting between the commission and financial technology firms (fintechs), during which an agreement was reached to register POS agents.

At the inauguration event on Wednesday, Magaji emphasized that the centre aims to streamline requests from operators in the fintech industry who voluntarily submitted their agents and merchants for regularization with the CAC.

In a tweet from its official handle, the CAC quoted Magaji as stating that this initiative aligns with President Bola Tinubu’s vision for enhancing financial inclusion among the youth and bolstering the fight against fraud and financial crimes in the country.

Magaji reiterated his commitment to ensuring compliance with the provisions of Section 863 (1) of the Companies and Allied Matters Act (CAMA) 2020, as well as the CBN guidelines for Agent Banking, 2013.

He mentioned that the centre is fully equipped with state-of-the-art facilities and staffed with adequate personnel to process applications swiftly—operating 24 hours a day.

The event saw the presence of several dignitaries including Tokoni Peter, Special Adviser to the President on Information and Communications Technology (ICT) Development and Innovation, and Salihu Dasuki, Special Adviser to the President on ICT Policy from the office of the Vice-President.

KanyiDaily recalls that the Central Bank of Nigeria (CBN) recently directed banks operating within the country to start charging a cybersecurity levy on transactions.