The Corporation for Corporate Affairs has decided to extend the deadline for registering Point of Sale agents, super agents, and sole agents until September 5, 2024.
A statement signed by the commission’s management and uploaded on its Facebook page on Saturday revealed the extension, which is good for 60 days.
The purpose of the extension, according to the statement, is to provide operators, especially those in more rural locations, more time to register and keep running their operations in the event that they have experienced network problems.
The initial deadline for the registration of sole Agents, Super Agents, and Agents has been extended for sixty days, beginning from 7th July 2024 to the 5th September 2024. This extension is being given by the Corporate Affairs Commission to inform Fintech Operators, also known as Point of Sales Operators.
This is to ensure that Operators, especially those in more rural regions, have enough time to register and resume operations in the event that they experience network issues.
The notice further warned that operators will face legal repercussions and the possible closure of their enterprises if they do not comply by the revised deadline.
Operators face the possibility of losing their businesses and being prosecuted for aiding and abetting illicit acts if they do not register by the extended deadline.
The CAC gave the PoS agents of major Nigerian fintechs, such as OPay, Palmpay, and Moniepoint, among others, until July 7, 2024, to register their firm. This announcement was made two months earlier.
This was agreed upon with the PoS operators following a conference in Abuja, according to Hussaini Magaji, the Registrar-General of the CAC, who made the announcement.
He further claims that the registrations are in accordance with all applicable laws and the guidelines set out by the Central Bank of Nigeria.
The action was similarly supported by CAMA 2020, Section 863, Subsection 1 of the Companies and Allied Matters Act, and the 2013 CBN guidelines on agent banking, he stated.
He stated that the goal of the registration is to protect fintech companies’ and clients’ businesses while also bolstering the economy.
