The Corporate Affairs Commission (CAC) has announced an extension for the registration of Fintech Operators, also known as Point of Sales (POS) Operators. The new deadline is set from July 7, 2024, to September 5, 2024, to accommodate operators, particularly in remote areas, who may have faced network issues.
Earlier, in May 2024, the CAC had established a deadline of July 7, 2024. However, in a statement posted on its X handle on Sunday, the Commission stated that the registration period would now conclude in September.
“The Corporate Affairs Commission wishes to notify Fintech Operators, also known as Point of Sales (POS) Operators, that the initial deadline of July 7, 2024, for the registration of sole Agents, Super Agents, and Agents has been extended by sixty days, from July 7, 2024, to September 5, 2024,” the statement read.
“This extension is to provide sufficient time for operators, especially those in remote areas experiencing network challenges, to register and continue their business activities.”
The Commission also issued a warning to operators who fail or refuse to register by the new deadline, stating that they risk losing their businesses and could face prosecution for aiding and abetting criminal activities.
In May, Registrar-General and Chief Executive Officer (CAC), Hussaini Magaji (SAN), emphasized that the registration timeline was “in line with legal requirements and the directives of the Central Bank of Nigeria.” He noted that the initiative is supported by Section 863, Subsection 1 of the Companies and Allied Matters Act (CAMA) 2020 and the 2013 CBN guidelines on agent banking.
