PoS operators get July 7 deadline for CAC registration
The Corporate Affairs Commission and some Point of Sale operators have agreed to protect customers’ interest.
The Registrar-General of CAC, Hussaini Magaji, said this when the operators visited him in his office in Abuja.
Mr Magaji said the operators agreed to a two-month timeline to register their agents and merchants with CAC.
According to him, this is in line with the legal requirements and the directives of the Central Bank of Nigeria.
He said, “The measure is to safeguard the businesses of Fintech customers and strengthen the economy. The action is equally backed by Section 863, Sub-section 1 of the Companies and Allied Matters Act, (CAMA 2020), as well as the 2013 CBN guidelines on agent banking.’’
The registrar-general said that the deadline for the registration, which was agreed to be July 7, was aimed at providing protection for businesses in the country.
Also speaking, the Special Adviser to the President on Information and Communication Technology Development and Innovation, Peter Tokoni, restated the commitment of the government to boost the economy.
“We will ensure smooth facilitation of this process in line with the Renewed Hope Initiative of President Bola Tinubu-led administration,” Mr Tokoni said.
On their part, the Fintech operators reiterated their commitment to partner with CAC to ensure the efficient and effective implementation of the CBN directive.
They, however, urged for adequate sensitisation of the public to ensure smooth operations and to meet the desired goal.
The representatives of Opay, Momba; Palmpay Ltd.; Paystack; Fairmoney Microfinance Bank; Moniepoint, and Teasy pay were present at the event.
The highlight of the event was the signing of a document by the representatives to support the project.
(NAN)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
Rights
UTME: JAMB’s AI plan could exclude visually impaired candidates, CITAB warns
Mr Fenemigho, however, warned that without deliberate preparations, the initiative could remain an ambitious idea rather than a project.
Sport
FIFA, Adidas unveil 2026 World Cup final match ball
The match ball is inspired by the FIFA World Cup trophy, featuring a striking white, black, and gold design.
Heading 4
Tinubu orders probe of X, Meta over alleged exploitation of news content
Mr Ijagwu said that under the new investigation, areas of interest include allegations of market dominance and potential anti-competitive conduct.
Heading 1
Tinubu hails Nigerian Army’s role in national, regional security
Mr Tinubu said the army’s contributions have safeguarded Nigeria’s sovereignty while strengthening peace and stability across Africa and beyond.
Education
Security agencies working to rescue abducted pupils, teachers, Oyo govt tells families
The state government said in a statement on Monday that it remained fully committed to ensuring the victims’ safe return to their families.
Sport
2026 World Cup: ‘You’ve been trying to kill me for 23 years,’ Ronaldo tells journalists
Ronaldo condemned some journalists who have taken pleasure in casting a harsh spotlight on him, saying it had been the same since he was 18 years old.
