CAC establishes a center for PoS operators to register

A center for bulk Point of Sale operator database registration has been established by the Corporate Affairs Commission.

This was said by CAC Registrar-General Hussaini Magaji on Wednesday during the center’s opening ceremony at its Federal Capital Territory Office in Abuja.

It is imperative, in Magaji’s opinion, that PoS operators be registered in the commission’s database.

He claimed the center had all the amenities needed to run efficiently around-the-clock and guarantee the commission’s goal was met.

“What we accomplished was to grant the Fintechs’ request.

“We have allowed them to integrate with the Corporate Affairs Commission; they have developed their structure, and we gave them access.

“Once they supply the necessary details for registration on their platform, the certificate is generally generated and transmitted directly to their platform without them having to contact anyone.

“We have done this to ensure that everyone gets it easy without hitches, but if they choose to apply manually, we have a secretariat open for them to do so,” he stated.

According to PUNCH Online, the Central Bank of Nigeria’s directives and legal requirements were followed by the Federal Government through the CAC on Tuesday, when it gave Point of Sale companies a two-month deadline to register their agents, merchants, and individuals with the commission.

The registrar-general, in the meantime, reaffirmed during the ceremony that the center will be accessible to all fintech operators who willingly submitted their merchants and agents for CAC regularization.

According to Magaji, the registration was in keeping with President Bola Tinubu’s intention to guarantee young financial inclusion and bolster the nation’s battle against fraud, finance, and other crimes.
He also reaffirmed his commitment to upholding the CBN’s 2013 guidelines for agent banking as well as Section 863 (1) of the Companies and Allied Matters, CAMA 2020.

Regarding security, the head of CAC stated that if a crime was committed with a PoS machine, the authorities could quickly track down the culprits using the CAC data platform if the machine was registered.

This registration is essential because without the operator’s information, we would not be able to respond to an event that is reported to CAC.

“The registration ensures that every detail of the person is provided, including NIN, passport photograph and all other useful documents.

“And it is an opportunity for more people to be captured into the formal sector,” he said.
According to the News Agency of Nigeria, Tokoni Peter, the President’s Special Advisor on ICT Development and Innovation, was present at the function.

PoS operators, other stakeholders, and Dr. Salihu Dasuki, Special Advisor to the President on ICT Policy Office, were present at the ceremony.

(NAN)