CBN Orders PoS Operators to Register With CAC, Offers Two Month Ultimatum

Point of Sale Transaction (PoS) — Level of Sale Transaction (PoS)

The Central Financial institution of Nigeria (CBN) has ordered all Level-of-Sale operators within the nation to register their companies with the Company Affairs Fee (CAC) in two months.

This was revealed after a gathering between Fintechs and the Registrar-Normal/Chief Govt Officer, CAC, Hussaini Magaji (SAN) in Abuja on Monday, Might 7.

The CAC boss stated the two-month timeline for the registration, which is able to expire on July 7, was not focused at any teams or people however was “according to authorized necessities and the directives of the Central Financial institution of Nigeria.”

Learn Additionally:

The assertion learn: “The Company Affairs Fee and Fintech firms in Nigeria, higher generally known as PoS operators, have agreed to a two-month timeline to register their brokers, retailers, and people with the CAC according to authorized necessities and the directives of the Central Financial institution of Nigeria.

“The Company Affairs Fee and Fintech firms in Nigeria, higher generally known as PoS operators, have agreed to a two-month timeline to register their brokers, retailers, and people with the CAC according to authorized necessities and the directives of the Central Financial institution of Nigeria.

“The settlement was reached right now throughout a gathering between Fintechs and the Registrar-Normal, CAC, Hussaini Ishaq Magaji, in Abuja.”