May 7, (THEWILL) – The Central Bank of Nigeria (CBN) has directed all Point-of-Sale operators in the country to register their businesses with the Corporate Affairs Commission (CAC) in two months.
Registrar-General/Chief Executive Officer, CAC, Hussaini Magaji (SAN), disclosed this on Monday, in Abuja, after a meeting with Fintechs.
The CAC boss said the two-month timeline for the registration, which will expire on July 7, was “in line with legal requirements and the directives of the Central Bank of Nigeria.”
A statement by the CAC reads in part: “The Corporate Affairs Commission and Fintech companies in Nigeria, better known as PoS operators, have agreed to a two-month timeline to register their agents, merchants, and individuals with the CAC in line with legal requirements and the directives of the Central Bank of Nigeria.
“The agreement was reached today during a meeting between Fintechs and the Registrar-General, CAC, Hussaini Ishaq Magaji, in Abuja.”
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