A TWO-MONTH lifeline has been given to Point of Sales (PoS) operators in Nigeria by the Corporate Affairs Commission (CAC) for registration. The new deadline for registration is September 5, 2024, to avoid clampdown.
In response to rising fraud cases, the CAC initially set a deadline for July 7, 2024, which was extended due to pressure. The Lagos State Governor, Babajide Sanwo-Olu, urged for a more straightforward registration process.
The Association of Mobile Money and Bank Agents in Nigeria (AMMBAN) expressed concerns about hindering the growth of the agent banking sub-sector. Registration was seen as not directly related to fighting fraud by AMMBAN’s National President, Fasasi Atanda.
Overall, the need for registration is emphasized for PoS operators to continue their businesses legally, while discussions continue on streamlining the process for smoother operations in the sector.
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