The registration deadline for Point of Sales (PoS) operators has been extended.
The registration deadline for Point of Sales (PoS) operators has been extended by
the Corporate Affairs Commission (CAC) until September 5, 2024. The Central Bank of Nigeria (CBN)
had previously required PoS agents to register their businesses with the CAC for financial security purposes.
The CAC, in a statement dated July 6 and signed by its management,
announced the extension to provide PoS operators with additional time to complete their registration.
This extension grants PoS merchants an extra 60 days to comply with the directive from the apex bank.
Failure to register by the new deadline may result in the loss of businesses and prosecution for
involvement in criminal activities, as stated by the commission.
The CBN had issued a memo on April 30 instructing all non-individuals involved in
agent banking to register their businesses with the CAC in accordance with section
863 of the Companies and Allied Matters Act (CAMA) 2020,
to ensure compliance with Nigerian business regulations.