As part of efforts to protect customers against fraudsters, the Corporate Affairs Commission has set a two-month deadline for Point of Sale operators in the country to register their agents, merchants and individuals.
Disclosing this to the public on Monday, Registrar-General/Chief Executive Officer, CAC, Hussaini Magaji, during a meeting with some PoS agents in Abuja, set July 7, 2024, as deadline date.
Magaji, via the commission’s X page, stated that the measure aims at safeguarding the businesses of fintech customers and strengthening the economy, the commission.
He added that the move is in accordance with Section 863, Subsection 1 of the Companies and Allied Matters Act, CAMA 2020 as well as the 2013 Central Bank of Nigeria’s guidelines on agent banking.
The tweets partly reads: “Hussaini Magaji, therefore, said that the timeline for the registration, which will expire on July 7, 2024, was not targeted at any groups or individuals but genuinely aimed at protecting businesses.
“Several speakers from the fintech industry pledged to collaborate with the Commission to ensure hitch-free implementation of the directive.
READ MORE: Social Media Influencers, Content Creators Must Register, Pay Taxes – CAC
“Some of them, however, stressed the need for adequate and collective sensitisation to ensure that the exercise achieved the desired results.
Also, the Special Adviser to President Bola Tinubu on ICT Development and Innovation, pledged to ensure the smooth facilitation of the process in line with the Renewed Hope Initiative of the present administration.
CAC, PoS OPERATORS AGREE TO TWO-MONTH DEADLINE TO REGISTER THEIR AGENTS AND MERCHANTS TO STRENGTHEN THE FINTECH INDUSTRY pic.twitter.com/7OqlMyh8PN
— Corporate Affairs Commission (@cacnigeria1) May 6, 2024
