The Corporate Affairs Commission (CAC) has given Point of Sales (POS) operators in Nigeria an additional 60 days to register their businesses, extending the deadline from July 7 to September 5, 2024. This move aims to accommodate operators who faced challenges registering on the Commission's portal, particularly those in remote areas with network issues.
The registration drive is part of efforts to protect fintech businesses and customers, and to strengthen the economy in line with Central Bank of Nigeria (CBN) directives. Lagos State Governor Babajide Sanwo-Olu had earlier appealed to the CAC to simplify the registration process, suggesting a model similar to the state tax card, which provides a database for infrastructure management without burdening businesses.