Corporate Affairs Commission Inaugurates PoS Operators’ Bulk Registration Centre

The Corporate Affairs Commission (CAC) has officially opened a centre solely dedicated to facilitating the bulk registration of Point of Sale (PoS) operators in its extensive database.

During the inauguration event at the Federal Capital Territory Office in Abuja, the CAC Registrar-General, Hussaini Magaji, emphasized the significance of having PoS operators registered in the commission’s database.

Magaji highlighted that the newly inaugurated centre is fully equipped with 24-hour operational capacity and essential facilities, aiming to streamline the registration process and bolster the commission’s overall objectives.

He mentioned, “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.”

The Registrar-General further stated that the CAC had issued a two-month registration ultimatum to PoS companies on the directive of the Central Bank of Nigeria, mandating the registration of their agents, merchants, and individuals with the commission to adhere to legal standards.

Magaji assured attendees that the newly established centre is open to all fintech operators voluntarily providing their agents and merchants for formalisation with the CAC, conforming to President Bola Tinubu‘s initiative on financial inclusion and combatting financial crimes in Nigeria.

Regarding security measures, the CAC chief expressed that the registration would enhance accountability. In case of criminal activities involving PoS devices, government authorities could easily trace back to the CAC database for crucial operator details.