CAC Extends PoS Operators’ Registration Deadline by 60 Days

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

Starting from July 7, 2024, to September 5, 2024, this extension aims to accommodate operators, particularly those in remote areas facing network issues.

Originally, the Commission had set a deadline of July 7, 2024. However, in a statement posted on its X handle on Sunday, it announced that the registration period has been extended to September.

The statement reads: “The Corporate Affairs Commission wishes to notify Fintech Operators also known as Point of Sales (POS) Operators that the initial deadline of July 7, 2024, given for the registration of sole Agents, Super Agents, and Agents has been extended for a period of sixty days beginning from July 7, 2024, to September 5, 2024.

“This extension is to allow sufficient time for operators, particularly those in remote areas who might have encountered network challenges, to register and continue their businesses.”

The Commission warned that operators who fail to register by the end of the extended deadline risk losing their businesses and facing prosecution for aiding and abetting criminal activities.

Earlier in May, Registrar-General/Chief Executive Officer (CAC) Hussaini Magaji (SAN) emphasized that the registration timeline for agents, merchants, and individuals with the Commission was in line with legal requirements and directives from the Central Bank of Nigeria. He noted that this action is supported by Section 863, Subsection 1 of the Companies and Allied Matters Act (CAMA) 2020, and the 2013 CBN guidelines on agent banking.