CAC Extends Registration Deadline For PoS Operators By 2 Months

The Corporate Affairs Commission (CAC) has prolonged the deadline issued to Point of Sales (PoS) operators in Nigeria to register their businesses by 60 days.

Due to the new directive, PoS operators now have until September 5, 2024, to register their businesses as against the initial deadline of July 7.

The Commission announced the extension via a statement issued on Saturday, accompanied with a warning that any operator that fails to meet the new deadline will face prosecution and risk losing the business.

“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,” CAC said in the announcement.

Since the deadline was announced in May, some of the PoS operators have complained about difficulties in getting their registration done on the Commission’s portal.

LEADERSHIP reported that the Lagos State Governor, Mr. Babajide Sanwo-Olu recently appealed to the Commission to simplify the process to enable the target people register their businesses.