The Corporate Affairs Commission (CAC) has granted a two-month extension for Point of Sale (POS) operators to register with the commission. The new deadline is now September 5, 2024, instead of the initial July 7, 2024.
“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,” the commission announced on its social media handle.
The extension is aimed at giving more time to operators, especially those in remote areas, who may have encountered technical challenges during the registration process. “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 explained.
The registration requirement is part of the government’s efforts to track and prevent criminal activities, such as kidnapping and extortion, which have been linked to the use of POS machines. “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,” said Registrar-General Hussaini Ishaq Magaji.
“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,” Magaji emphasized.
The extension is a welcome relief for POS operators who may have faced challenges in meeting the initial deadline. “We commend the commission for this extension, it will give us more time to complete our registration,” said a POS operator who preferred anonymity.
The commission’s efforts to combat criminal activities and ensure business registration are commendable, and the extension will help to ensure a more comprehensive registration process.
