CAC Extends Deadline For PoS Operators’ Registration By 60 Days

The Corporate Affairs Commission (CAC) has announced an extension of the deadline for registering all Point of Sale (PoS) Operators by an additional sixty days.

The new deadline extends from July 7, 2024, to September 5, 2024.

According to the Commission, this extension aims to accommodate operators, especially those in remote areas who might have faced network issues during the registration process. The CAC had initially set a deadline of July 7, 2024, in May of this year. However, the statement posted on its X handle on Sunday confirms that the registration period will now conclude in September.

“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, however, warned that “Operators who fail or refuse to register at the end of the extended deadline run the risk of losing such businesses and prosecution for aiding and abetting criminal activities.”

Speaking earlier in May, the Registrar-General/Chief Executive Officer (CAC) Hussaini Magaji (SAN), said timeline to register their agents, merchants, and individuals with the commission, was “in line with legal requirements and the directives of the Central Bank of Nigeria”.

He stressed that the action was equally backed by Section 863, Subsection 1 of the Companies and Allied Matters Act, CAMA 2020, and the 2013 CBN guidelines on agent banking.