The Corporate Affairs Commission (CAC) has extended the registration deadline for Fintech Operators, including Point of Sale (POS) Operators, by an additional sixty days. Initially set for 7th July 2024, the new deadline is now 5th September 2024.
This extension aims to accommodate operators, especially those in remote areas, who may have faced network issues preventing timely registration.
In a statement posted on its X handle on Sunday, the CAC emphasized the need to give sufficient time to operators facing network challenges. The commission warned that failure to register by the new deadline could result in losing business licenses and prosecution for aiding and abetting criminal activities.
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Registrar-General and CEO of the CAC, Hussaini Magaji (SAN), stated in May that the registration timeline aligns with legal requirements and directives from the Central Bank of Nigeria (CBN). He noted that this action is backed by Section 863, Subsection 1 of the Companies and Allied Matters Act (CAMA) 2020 and the 2013 CBN guidelines on agent banking.
Operators are urged to take advantage of the extension to ensure compliance and avoid potential legal consequences.
