The Corporate Affairs Commission (CAC) has extended the registration deadline for all Point of Sale (PoS) Operators by an additional sixty days to accommodate those who faced technical issues. This extension, announced on the commission’s X handle on Sunday, pushes the deadline from July 7, 2024, to September 5, 2024.
In a statement, the CAC informed Fintech Operators, including PoS Operators, that the initial deadline for the registration of sole Agents, Super Agents, and Agents has been extended. The extension aims to provide sufficient time for operators, particularly those in remote areas experiencing network challenges, to complete their registration and continue their business activities.
The commission warned that operators who fail to register by the new deadline may face severe consequences, including the loss of their businesses and potential prosecution for aiding criminal activities.
Registrar General of the CAC, Hussaini Ishaq Magaji, revealed that the Nigerian government mandates PoS providers to register with the commission. He emphasized that criminals increasingly use PoS machines to extort money from their victims.
According to Magaji, this registration process will enable the government to track and apprehend kidnappers, criminals, and one-chance operators. He made these remarks during the official launch of the Fintech registration agents and merchants in Abuja.
Magaji explained that the commission is training its staff to operate 24/7 to meet public demand. He stated, “This training equips our staff to work round the clock, even from home, using the necessary facilities. PoS registration is ongoing and will close on July 7, 2024. All businesses in Nigeria are required by law to register with the CAC.”
Magaji also noted that PoS operators must register within the 60-day extension. He warned that businesses using unregistered PoS machines will incur a daily charge of N200, backdated to the day the machine was first used.
Furthermore, he highlighted that even PoS machines within banks must be registered and subject to the same charges as those on the street. He concluded by stating that any PoS machines remaining unregistered after the deadline would be considered illegal.