Financial News Highlights May 9, 2024 – CAC Begins Registration Of POS Operators etc


CAC begins registration of PoS operators


The Corporate Affairs Commission (CAC) has commissioned a Dedicated Centre to facilitate the Bulk Registration of Point of Sale (PoS) operators.

CAC Registrar General Announces Creation Of Dedicated Center For POS Operators Registration

Hussaini Ishaq Magaji, The Registrar General, CAC said that the creation of the center was to facilitate all requests from operators in the fintech industry that voluntarily submitted their agents and merchants for regularisation with the CAC.


He said this at the unveiled the office the Centre located at the Commission’s office in Zone 5, Abuja.


The commission had on Monday issued a two-month registration deadline for PoS operators to register their agents, merchants, with the commission in line with legal requirements and the directives of the Central Bank of Nigeria (CBN).


Speaking after the formal flag off of activities at the centre, Magaji revealed that it is fully equipped with state-of-the art equipment needed to handle the project.




He further explained that it was also equipped with adequate personnel to handle applications in record time, 24 hours a day.


He therefore restated his resolve to ensure compliance with the provisions of Section 863(1) of the Companies and Allied Matters, CAMA 2020, and the CBN guidelines for Agent Banking, 2013.


Magaji added that the commitment was also in line with President Bola Ahmed Tinubu’s desire to ensure financial inclusion for the youth as well as strengthen the fight against fraud, financial and other crimes in the country.

Other financial news highlights today May 9, 2024

FG to get 10% of distributable VAT revenue, as sharing formula review plans begin

5 other levies Nigerians pay for electronic transactions

For more details either get a printed copy of business day newspaper or go to their website

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