PoS operator says CAC registration deadline unrealistic
A mobile money and bank agent, Fasasi Atanda, says the deadline for registering a point of sale with the Corporate Affairs Commission (CAC) is unrealistic.
Mr Atanda said this in an interview on Tuesday in Lagos.
“Currently, the CAC portal is very slow because of traffic. It takes up to three to four days for someone to even access the portal. For association, we engage an agent that is doing the registration,” he said.
According to him, it is possible for everyone to register.
He said business owners needed to be sure they wanted to register because of the requirements and some developments that would come after the registration.
PoS operators had revealed plans to sue the CAC over mandatory registration requirements.
On May 6, CAC and financial technology (fintechs) companies agreed to a two-month timeline to register their agents, merchants, and individuals with the commission.
CAC said the deadline for registration is set for July 7.
According to the commission, the action is backed by section 863 (1) of the Companies and Allied Matters Act (CAMA) 2020, as well as the 2013 Central Bank of Nigeria (CBN) guidelines on agent banking.
(NAN)
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