PoS operators get 2 months to register all agents with CAC, pledge to protect customers

The Corporate Affairs Commission (CAC) and some Point of Sale (PoS) operators have agreed to protect customers’ interests. The operators also agreed to a two-month timeline to register their agents and merchants with CAC

The Registrar-General of CAC, Hussaini Magaji, said this when the operators visited him in his office in Abuja.

According to him, this is in line with the legal requirements and the directives of the Central Bank of Nigeria (CBN).

CAC partners Opay to register over 300,000 small businesses

“The measure is to safeguard the businesses of Fintech customers and strengthening the economy.

“The action is equally backed by Section 863, Sub-section 1 of the Companies and Allied Matters Act, (CAMA 2020), as well as the 2013 CBN guidelines on agent banking,” he said.

The registrar-general said that the deadline for the registration, which was agreed to be July 7, aimed at providing protection for businesses in the country.

Also speaking, Peter Tokoni, the Special Adviser to the President on Information and Communication Technology Development and Innovation, restated the commitment of the government to boost the economy.

“We will ensure smooth facilitation of this process in line with the Renewed Hope Initiative of President Bola Tinubu-led administration,” Tokoni said.

On their part, the Fintech operators reiterated their commitment to partner with CAC to ensure the efficient and effective implementation of the CBN directive.

They, however, urged for adequate sensitisation of the public to ensure smooth operations and to meet the desired goal.

BRANDPOWER reports that representatives of Opay, Momba; Palmpay Ltd.; Paystack; Fairmoney Micro Finance Bank; Moniepoint, and Teasy pay were present at the event.

The highlight of the event was the signing of a document by the epresentatives  to support  the project.