As the deadline of July 7, 2024 issued by the Corporate Affairs Commission (CAC) to Point of Sales (PoS) operators in Nigeria to register their businesses elapses, the Commission has extended the registration process by an additional 60 days.
According to the commission, the extension became necessary to give sufficient time to Operators particularly those in remote areas who might have encountered network challenges to register and continue with their businesses
With this extension, the operators now have until September 5, 2024, to register their businesses as against the initial deadline of July 7, 2024, the commission announced in a recent statement.
The commission, however, warns that any operator that fails to meet the new deadline will face prosecution and risk losing the business.
“The Corporate Affairs Commission wishes to notify Fintech Operators also known as Point of Sales (POS) Operators that the initial deadline of 7th July 2024 given for the registration of sole Agents, Super Agents, and Agents has been extended for a period of sixty days beginning from 7th July 2024 to the 5th September 2024.
“This is to give sufficient time to Operators particularly those in remote areas who might have encountered network challenges to register and continue with their businesses.
“Operators who fail or refuse to register at the end of the extended deadline run the risk of losing such businesses and prosecution for aiding and abetting criminal activities” the CAC disclosed in the statement.
It would be recalled that the Lagos State Governor, Mr. Babajide Sanwo-Olu on Thursday appealed to the Commission to simplify the process following several complaints by operators.
The Governor appealed to the Commission on Thursday during a courtesy call on him by the Registrar-General of CAC, Mr Hussaini Magaji, at Alausa, Ikeja.
Sanwo-Olu, who was represented by his Deputy, Dr Obafemi Hamzat, suggested that the CAC could adopt a model similar to the state tax card, which provided a database for the government to manage infrastructure needs without burdening businesses.
While expressing the state government’s willingness to collaborate with the CAC to ensure seamless registration of businesses in the state, he emphasized the need for more sensitization to correct the perception that registering with the CAC was difficult.
