CAC extends deadline for PoS operators’ registration to September 5, 2024 


The Company Affairs Fee (CAC) has prolonged by 60 days the deadline issued to Level of Gross sales (PoS) operators in Nigeria to register their companies. 

With this, the operators now have till September 5, 2024, to register their companies as in opposition to the preliminary deadline of July 7. The Fee introduced the extension by way of a press release issued on Saturday. 

The extension comes with a warning that any operator that fails to satisfy the brand new deadline will face prosecution and threat shedding the enterprise. 

What the Fee stated 

The CAC within the assertion asserting the extension stated: 

“The Company Affairs Fee needs to inform Fintech Operators also referred to as Level of Gross sales (POS) Operators that the preliminary deadline of seventh July 2024 given for the registration of sole Brokers, Tremendous Brokers, and Brokers has been prolonged for a interval of sixty days starting from seventh July 2024 to the fifth September 2024. 

“That is to provide adequate time to Operators notably these in distant areas who may need encountered community challenges to so register and proceed with their companies. 

“Operators who fail or refuse to register on the finish of the prolonged deadline run the chance of shedding such companies and prosecution for aiding and abetting felony actions.” 

Registration problem 

Because the deadline was introduced in Might, among the PoS operators have been complaining about difficulties in getting their registration accomplished on the Fee’s portal. This prompted the Lagos State Governor, Mr. Babajide Sanwo-Olu to attraction to the Fee to simplify the method. 

The Governor appealed to the Fee on Thursday throughout a courtesy name on him by the Registrar-Basic of CAC, Mr Hussaini Magaji, at Alausa, Ikeja. 

Sanwo-Olu, who was represented by his Deputy, Dr Obafemi Hamzat, prompt that the CAC may undertake a mannequin much like the state tax card, which supplied a database for the federal government to handle infrastructure wants with out burdening companies. 

Whereas expressing the state authorities’s willingness to collaborate with the CAC to make sure seamless registration of companies within the state, he emphasised the necessity for extra sensitization to appropriate the notion that registering with the CAC was troublesome. 


Earlier this Might, the CAC introduced that  PoS brokers of main fintechs in Nigeria together with OPay, Palmpay, and Moniepoint, amongst others, have been given a deadline of July 7, 2024, to register their enterprise. 

The Registrar-Basic of the CAC, Hussaini Magaji, who introduced this stated this was the Contract with the PoS operators after a gathering in Abuja. 

Based on him, the registrations are additionally according to the authorized necessities and the directives of the Central {Bank} of Nigeria (CBN). 

He added that the motion was equally backed by Part 863, Subsection 1 of the Corporations and Allied Issues Act, CAMA 2020 in addition to the 2013 CBN pointers on agent banking. 

He stated the registration is geared toward safeguarding the companies of fintechs and prospects, in addition to strengthening the financial system. 

In the meantime, the Affiliation of Cell Cash and {Bank} Brokers in Nigeria (AMMBAN), had just lately condemned the mandated registration, describing it’s an try and tax extra Nigerians to generate income for the federal government 

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