The Central Bank of Nigeria (CBN) has demanded that all point-of-sale (POS) operators in the country register with the Corporate Affairs Commission (CAC) within two months.
This was revealed following a meeting between Fintechs and the CAC’s Registrar-General/Chief Executive Officer, Hussaini Magaji (SAN), held in Abuja on Monday, May 7.
The CAC head stated that the two-month registration period, which will end on July 7, was not intended to target any specific groups or individuals, but rather was “in line with legal requirements and the directives of the Central Bank of Nigeria.”
The statement read: “The Corporate Affairs Commission and Fintech companies in Nigeria, better known as PoS operators, have agreed to a two-month timeline to register their agents, merchants, and individuals with the CAC in line with legal requirements and the directives of the Central Bank of Nigeria.
“The Corporate Affairs Commission and Fintech companies in Nigeria, better known as PoS operators, have agreed to a two-month timeline to register their agents, merchants, and individuals with the CAC in line with legal requirements and the directives of the Central Bank of Nigeria.
“The agreement was reached today during a meeting between Fintechs and the Registrar-General, CAC, Hussaini Ishaq Magaji, in Abuja.”