The Corporate Affairs Commission (CAC) has extended the deadline for PoS operators' registration by 60 days, now ending on September 5, 2024. This extension aims to facilitate registration for operators, particularly those facing network challenges in remote areas, by CAMA 2020 and CBN guidelines.
The Corporate Affairs Commission (CAC) has extended the deadline for the registration of Point of Sale (PoS) operators by an additional sixty days, now ending on September 5, 2024. This extension aims to accommodate operators, especially in remote areas facing network challenges. Initially set for July 7, 2024, the deadline shift was announced to ensure compliance with legal requirements and Central Bank directives on agent banking. The Registrar-General, Hussaini Magaji (SAN), emphasized that failure to register by the new deadline could lead to business loss and prosecution. The move aligns with Section 863, Subsection 1 of the Companies and Allied Matters Act (CAMA) 2020 and CBN guidelines.
Remote operators, particularly those experiencing network glitches, are urged to seize the extended window for compliance. The extension period from July 7 to September 5, 2024, underscores the CAC's commitment to regulatory alignment and operational transparency in the fintech and banking sectors.
