As the deadline expires, CAC extends the registration period for PoS operators

As the deadline of July 7, 2024 issued by the Corporate Affairs Commission (CAC) to Point of Sales (PoS) operators in Nigeria to register their businesses has expired, the Commission has extended the registration process for an additional 60 days.

According to the commission, this extension is necessary to provide sufficient time for Operators, especially those in remote areas who may experience network constraints, to register and resume their business.

With this extension, operators now have until September 5, 2024 to register their businesses, as opposed to the initial deadline of July 7, 2024, the commission announced in its latest statement.

However, the commission warned that any operators who fail to meet the new deadline will face prosecution and risk losing business.

“The Corporate Affairs Commission wishes to inform Fintech Operators also known as Point of Sales (POS) Operators that the initial deadline of 7 July 2024 given for registration of Sole Agents, Super Agents and Agents has been extended for a period of sixty days from 7 July 2024 to 5 September 2024.

“This is done to provide sufficient time for Operators, especially those in remote areas who may experience network problems, to register and continue their business.

READ ALSO: PoS operators slam CAC, call mandatory registration directive a ploy to collect taxes from Nigerians

“Operators who fail or refuse to register by the end of the extension deadline risk losing that business and being prosecuted for aiding and abetting criminal activity,” the CAC said in the statement.

It would be recalled that Lagos State Governor, Mr. Babajide Sanwo-Olu on Thursday appealed to the Commission to simplify the process following numerous complaints from operators.

The governor made the appeal to the Commission on Thursday during a courtesy visit to him by the Registrar-General of the CAC, Mr. Hussaini Magaji, in Alausa, Ikeja.

Sanwo-Olu, represented by his Deputy, Dr Obafemi Hamzat, suggested that the CAC could adopt a model similar to the nation’s tax card, which provides a database for government to manage infrastructure needs without burdening businesses.

While expressing the state government’s willingness to work with the CAC to ensure smooth business registration in the state, he stressed the need for more outreach to correct the perception that registering with the CAC is difficult.

By: Babajide Okeowo

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