CAC inaugurates centre for registration of POS operators

The Corporate Affairs Commission (CAC) has inaugurated a centre for the “bulk registration” of point of sale (POS) operators.

Hussaini Magaji, registrar-general and chief executive officer (CEO) of CAC, unveiled the centre, located at the commission’s FCT Zone 5 office.

The inauguration followed a recent meeting between the commission and financial technology firms (fintechs), where an agreement to register  POS agents was reached.

Speaking at the inauguration on Wednesday, Magaji stressed that the centre is meant to facilitate all requests from operators in the fintech industry that voluntarily submitted their agents and merchants for regularisation with the CAC.

In a tweet on its official X handle, the CAC quoted Magaji as saying the initiative aligns with President Bola Tinubu’s desire to ensure financial inclusion for the youth, as well as strengthen the fight against fraud, and financial and other crimes in the country.

“He therefore restated his resolve to ensure compliance with the provisions of Section 863 (1) of the Companies and Allied Matters, (CAMA) 2020, and the CBN guidelines for Agent Banking, 2013,” the post reads.

The registrar-general said the centre is fully equipped with state-of-the art facilities needed to handle the project and adequate personnel to handle applications in record time — 24 hours a day.

Tokoni Peter, special adviser to the president on information and communications technology (ICT) development and innovation, and Salihu Dasuki, special adviser to the president on ICT policy, office of the vice-president, were among several dignitaries who graced the event.