July 08, (THEWILL) – The Corporate Affairs Commission (CAC) has extended the registration deadline for all Point of Sale Operators (POS) by an extra sixty days to make room for those who couldn’t register because of technical issues.
THEWILL recalls that the Commission had previously set a registration deadline of July 7, 2024. The Commission posted a message on its X handle on a Sunday announcing that the registration deadline had been extended by two months.
“The Corporate Affairs Commission wishes to notify Fintech Operators, also known as Point of Sales (POS) Operators, that the initial deadline of 7th July 2024 given for the registration of sole Agents, Super Agents and Agents has been extended for a period of 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,” the commission’s statement reads.
The commission has confirmed that Operators who do not register by the extended deadline may face the consequences of losing their businesses and being prosecuted for assisting criminal activities. Registrar General of the Corporate Affairs Commission (CAC), Hussaini Ishaq Magaji, had disclosed on Wednesday, May 8, 2024 that the Nigerian government has instructed Point of Sale (POS) providers, to register with the commission.
He said criminals increasingly use POS machines to extort money from their victim According to Magaji, the registration is to enable the government to track kidnappers, criminals, and one-chance operators, causing pain for Nigerians at the moment. The Registrar-General (RG) announced this during the official launch of the Fintech registration agents and merchants in Abuja.
He stated that the commission is currently training its staff to operate 24/7 to meet the high demand of the people. Magaji said: “This training is to equip the trainers to work round the clock, not just office hours, which means they can work from home since they have all the facilities they need. The registration for POS operators is still ongoing, it will close by the 7th of July 2024. No matter what business you operate in Nigeria today, you are under the law of Nigeria to ensure your business is registered with the CAC
