POS Business Naija

The Corporate Affairs Commission (CAC) had earlier mandated all Mobile Money Operators, also known as POS Operators to register their businesses. This has caused frantic effort from POS operators. This exercise has made many compliant operators to register their businesses. In spite of this, many operators are still hesitating due to the cost and some are considering the importance.  No doubt, many registrations are still with the corporation awaiting approval so it will be unreasonable from CAC to stop such ones from operating their businesses.  On Saturday,  6th July 2024, CAC posted on their portal a notice of extension.  Read:  How to get money to start POS business This extension pushes POS registration from 7th July to September 5th 2024. This extension is to further allow POS operators time to comply and it's expected that they will meet this deadline.  To register your business with CAC, click here

CAC has made it mandatory for POS terminals, whether as agents, merchants, or individuals to register with the Corporate Affairs Commission before the commencement of business, while those that already commenced business were given 7th July 2024 as the deadline to register same. This directive was made to enable the corporation monitor and know all eligible POS operators in the country. It is also believed that it will curb criminal activities as a lot of money is lost to criminal activities of POS operators. With the deadline closing in, what becomes the faith of POS operators. Many operators are registered while a lot are still dragging their feet on the matter. Many POS operators have insisted on an increment in charges if forced to register with CAC. As it is,  the umbrella body of POS operators in Nigeria, Association of Mobile Money Operators in Nigeria (AMMBAN) have decided to sue the Corporate Affairs Commission (CAC) for this ill timed directive. But what is th...