The Corporate Affairs Commission (CAC) in Nigeria has extended the registration deadline for Point of Sale (PoS) operators by an additional 60 days, from July 7, 2024, to September 5, 2024.
In a statement on Sunday, the CAC noted that this extension is “to give sufficient time to operators, particularly those in remote areas who might have encountered network challenges, to register and continue with their businesses.”
The CAC initially set the deadline in May 2024. The Registrar-General of the CAC, Hussaini Magaji (SAN), stressed, “This timeline for registering agents, merchants, and individuals with the commission is in line with legal requirements and the directives of the Central Bank of Nigeria.”
The Commission also warned, “Operators who fail or refuse to register by the end of the extended deadline run the risk of losing their businesses and facing prosecution for aiding and abetting criminal activities.”
Magaji highlighted the legal backing for the requirement, citing Section 863, Subsection 1 of the Companies and Allied Matters Act (CAMA) 2020, and the 2013 CBN guidelines on agent banking.
