The Corporate Affairs Commission, CAC, has launched a center dedicated to streamlining the bulk registration process for Point of Sale, PoS, operators within its database.
Hussaini Magaji, the Registrar-General of CAC, made this announcement during the center’s inauguration at the Federal Capital Territory Office in Abuja on Wednesday, May 8.
He emphasized the criticality of including PoS operators in the commission’s database, highlighting its significance. He assured that the center is fully equipped to function round the clock, equipped with all essential facilities, contributing to the commission’s overarching objectives.
“What we did was accommodate the request from the Fintechs.
“We have allowed them to integrate with the Corporate Affairs Commission; they have developed their structure, and we gave them access.
“Once they supply the necessary details for registration on their platform, the certificate is generally generated and transmitted directly to their platform without them having to contact anyone.
“We have done this to ensure that everyone gets it easy without hitches, but if they choose to apply manually, we have a secretariat open for them to do so,” he stated.
Recall that the Federal Government through the CAC on Tuesday, May 7, issued a two-month registration deadline to Point of Sales companies, PoS, to register their agents, merchants, and individuals with the commission in line with legal requirements and the directives of the Central Bank of Nigeria, CBN.
During the event, the registrar-general reiterated that the center would welcome all fintech industry operators who voluntarily submit their agents and merchants for regularization with the CAC.
Magaji highlighted that this registration drive aligns with President Bola Tinubu’s commitment to fostering financial inclusion for the youth and intensifying efforts against fraud and other financial crimes in the nation.
He also emphasized his determination to ensure adherence to the stipulations of Section 863 (1) of the Companies and Allied Matters Act (CAMA) 2020, as well as the 2013 CBN guidelines for Agent Banking.
Regarding security, the CAC chief emphasized that in case of any criminal activities involving PoS devices, the government could readily trace the culprits through the CAC data platform if such machines were properly registered.
“If an incident happens and they report it to CAC, if we do not have the operator’s details, we cannot respond, and that is the essence of this registration.
“The registration ensures that every detail of the person is provided, including NIN, passport photograph, and all other useful documents.
“And it is an opportunity for more people to be captured into the formal sector,” he said.
The Special Adviser to the President on ICT Development and Innovation, Tokoni Peter was at the event as the event was also attended by Dr Salihu Dasuki, the Special Adviser to the President on ICT Policy Office, the PoS operators, and other stakeholders.
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