The Federal Government (FG) through the Corporate Affairs Commission (CAC) has set July 7, 2024 as the deadline for the registration of Point of Sale (PoS) operators. This development was made known on Monday during a meeting between Fintechs and the Registrar-General of the CAC, Hussaini Ishaq Magaji, who stated that the development was aimed at improving the economy.
According to a statement, “Section 863, subsection 1 of the Companies and Allied Matters Act, CAMA 2020 as well as the 2013 Central Bank of Nigeria’s guidelines on agent banking.
“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 sensitization to ensure that the exercise achieved the desired results.”
Last week, the apex bank directed major fintech firms like Kuda, Opay, Moniepoint and others from registering new customers, it also instructed the fintechs to warn their customers against trading in cryptocurrency or other virtual currency, threatening to freeze any account discovered engaging in such activities.
