The Central Bank Of Nigeria (CBN) has issued a July 7, 2024 deadline for Point of Sales (PoS) operators to complete registration with the Corporate Affairs Corporation (CAC)
This was revealed during a meeting between Fintechs and the Registrar-General/Chief Executive Officer (CAC) Hussaini Magaji (SAN) in Abuja on Tuesday.
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.
He said the measure aims at safeguarding the businesses of Fintech’s customers and strengthening the economy.
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 representatives of Opay, Momba, Palmpay, Pay Stack, Fair Money, Monie Point, and Teasy Pay present at the event, later signed up for a document to support the project.