News
BREAKING: CBN Gives Deadline For PoS Operators To Register With CAC
CBN has issued a July 7, 2024 deadline to PoS operators to complete registration with CAC.
CBN has issued a July 7, 2024 deadline to PoS operators to complete registration with CAC.
The development aims to safeguard Fintech customers and bolster the economy, with industry stakeholders pledging support for smooth implementation.
The Central Bank of Nigeria (CBN) has mandated Point of Sales (PoS) operators to register with the Corporate Affairs Corporation (CAC) by July 7, 2024, aiming to fortify Fintech businesses and bolster the economy.
VerseNews reports that the Registrar-General/Chief Executive Officer (CAC) Hussaini Magaji (SAN) made this known in Abuja on Tuesday during a meeting between the Financial Technology Fintech companies.
Speaking at the event, the CAC boss said the two-month timeline to register their agents, merchants, and individuals with the commission, was “in line with legal requirements and the directives of the Central Bank of Nigeria”.
“The measure aims at safeguarding the businesses of Fintech’s customers and strengthening the economy”.
The CAC boss also stated that a statement titled ‘CAC, PoS Operators Agree To Two-Month Deadline To Register Their Agents And Merchants To Strengthen The Fintech Industry‘was released to the effect.
He stressed that the action was equally backed by Section 863, Subsection 1 of the Companies and Allied Matters Act, CAMA 2020, and the 2013 CBN guidelines on agent banking.
Magaji explained that the timeline for the registration which will expire on July 7, 2024, was not targeted at any groups or individuals but aimed at protecting businesses.
Several speakers from the Fintech industry pledged to collaborate with the commission to ensure hitch-free implementation of the directive.
Some of them, however, stressed the need for adequate and collective sensitisation, to ensure that the exercise achieved the desired results.
The Special Adviser to the President on ICT Development and Innovation, Tokoni Peter, in his remarks, pledged to ensure smooth facilitation of the process in line with the Renewed Hope Initiative of the present administration.
The representatives of Opay, Momba, Palmpay Ltd, Pay Stack, Fair Money MFB, Monie Point, and Teasy Pay present at the event, later signed up for a document to support the project.
Ambrose Alli University Lecturer Dies in Hotel Room After Sexual Encounter With 21-Year-Old Woman
A senior lecturer at Ambrose Alli University, Ekpoma, Dr Matthew Uwuigbe, has died in a hotel room in Edo State...
Omotosho’s First Jurisdictional Failure — The Court Lacked Authority to Try Kanu
The Mazi Nnamdi Kanu Global Legal Consortium has alleged that the Federal High Court lacked jurisdiction to try Kanu on...
‘No Government Without a Country’: IPOB Rejects Self-Appointed Biafra Government Officers
Mazi Chris Nwaọgụ has reiterated IPOB’s demand for Nnamdi Kanu’s freedom and Biafra’s restoration, while calling for Kanu’s appeal to...
Sokoto Declaration: Emma Powerful Dismantles False Claims, Reaffirms Onyendu Mazi Nnamdi Okwu Kanu’s Referendum Position
Kanu’s camp has rejected claims that he did not approve or co-sign the Sokoto Declaration, while stressing that he does...
Kanu’s Unlawful Conviction, the Law That Was Already Dead, and the Shame That Is Waiting for Nigeria’s Judiciary
Christopher Chidera, Esq., has challenged the legal basis of Nnamdi Kanu’s conviction, arguing that the trial court relied on a...
Elochukwu Ohagi Describes Nnamdi Kanu as ‘Anointed Builder’ in Biafran Cenotaph Tribute
Elochukwu Ohagi has described Nnamdi Kanu as an “anointed builder” and “divine instrument” in the struggle for Biafran restoration, highlighting...
Delta Commissioner, Three Others Arrested Over Deputy Director’s Death
Five suspects are now in custody, while police have declared two others wanted as investigations into the ministry official’s death...
Kanu Family Fires Back: ‘No Statutory Transition Means No Valid Sentence’
The Okwu-Kanu Family has called for the immediate hearing of Nnamdi Kanu’s appeal, questioning the written law underpinning his conviction...
IPOB Accuses Nigerian Judiciary of ‘Judicial Banditry’ Over Nnamdi Kanu Conviction
IPOB has accused the Nigerian judiciary of violating constitutional provisions in Nnamdi Kanu’s conviction, questioning the legal basis of the...
IPOB: Nnamdi Kanu Must Be Released Unconditionally, Appeal Must Be Listed — Chris Nwaọgụ
IPOB has renewed its demand for the immediate and unconditional release of Nnamdi Kanu, while calling for his pending appeal...
You must be logged in to post a comment Login