POS Operators has 60-Day Deadline Extension to Register their business with CAC.
The Corporate Affairs Commission (CAC) has extended the registration deadline for all Point of Sales (POS) operators in Nigeria by 60 days, giving them until September 5, 2024, to register their businesses.
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Recall, the initial deadline was fixed for July 7, 2024.
The new deadline was made known in an official statement released on Sunday.
According to the statement, any operator who fails to meet the new deadline will face prosecution and risk losing their business.
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The CAC stated that the extension is to give sufficient time to operators, especially those in remote areas who may have encountered network challenges, to register and continue with their businesses.
Since the deadline was announced in May, some POS operators have been complaining about difficulties in getting their registration done on the Commission’s portal.
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The challenge faced by operators, prompted Lagos State Governor, Mr. Babajide Sanwo-Olu, to beg the Commission to extend the registration.
The Governor suggested that the CAC should adopt a model similar to the state tax card, which provided a database for the government to manage infrastructure needs without burdening businesses.
The registration is aimed at safeguarding the businesses of fintechs and customers, as well as strengthening the economy, in line with the legal requirements and directives of the Central Bank of Nigeria (CBN).
