Ayobamiji Komolafe 
The Corporate Affairs Commission (CAC) has renewed its call to Point of Sale (PoS) operators across Nigeria, reminding them that the deadline for mandatory business registration expired on September 5, 2024.
In a public notice issued on Friday, the CAC expressed concern over the low compliance rate with the directive.
The Commission suggested that unregistered operators may be involved in “unwholesome activities,” prompting worries about potential illegal practices.
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Despite legal challenges from fintech operators under the Association of Mobile Money and Bank Agents in Nigeria (AMMBAN), who oppose the compulsory registration, the CAC emphasized that non-compliant operators could face legal actions, including shutdowns.
The CAC is working with law enforcement to ensure full compliance.
