New Deadline for PoS Operators’ Registration Extended to September 5, 2024

The Corporate Affairs Commission (CAC) has granted an additional 60 days for Point of Sales (PoS) operators in Nigeria to register their businesses, shifting the deadline from July 7 to September 5, 2024. This extension aims to assist operators, particularly those in remote areas facing network issues, in completing their registration process.

CAC’s Announcement

The CAC’s statement read:

“The Corporate Affairs Commission wishes to notify Fintech Operators also known as Point of Sales (POS) Operators that the initial deadline of 7th July 2024 given for the registration of sole Agents, Super Agents, and Agents has been extended for a period of sixty days beginning from 7th July 2024 to the 5th September 2024. This is to give sufficient time to Operators particularly those in remote areas who might have encountered network challenges to so register and continue with their businesses. Operators who fail or refuse to register at the end of the extended deadline run the risk of losing such businesses and prosecution for aiding and abetting criminal activities.”

Tackling Registration Issues

Following the May announcement, several PoS operators reported challenges with the CAC’s registration portal. In light of these issues, Lagos State Governor Babajide Sanwo-Olu, represented by Deputy Governor Dr. Obafemi Hamzat, called on the CAC to streamline the process.

During a visit from CAC Registrar-General Mr. Hussaini Magaji, Governor Sanwo-Olu proposed adopting a system akin to the state tax card, which efficiently manages infrastructure needs without burdening businesses. He also highlighted the necessity for increased sensitization to dispel the perception that CAC registration is overly complicated. The Lagos State government has expressed its willingness to collaborate with the CAC to facilitate a smoother registration process for businesses.