The Corporate Affairs Commission (CAC) has announced an extension to the mandatory registration deadline for Point of Sales (PoS) agents, super agents, and sole agents. The new deadline is now set for September 5th, 2024, providing an additional 60 days for operators to comply.
In a statement released on its Facebook page, the CAC indicated that the extension aims to accommodate operators, particularly those in remote areas who may have faced network issues impeding their registration process.
The statement from the commission read, “The Corporate Affairs Commission wishes to notify Fintech Operators, also known as Point of Sales Operators, that the initial deadline of 7th July 2024 for the registration of sole Agents, Super Agents, and Agents has been extended for sixty days, starting from 7th July 2024 to 5th September 2024. This extension is to ensure sufficient time for operators, especially those in remote areas who might have encountered network challenges, to register and continue their businesses.”
The CAC also issued a stern warning to operators who fail to comply by the new deadline. “Operators who fail or refuse to register by the end of the extended deadline run the risk of losing their businesses and facing prosecution for aiding and abetting criminal activities,” the statement added.
This move by the CAC underscores its commitment to ensuring regulatory compliance across the fintech sector while also recognizing the logistical challenges faced by operators in less accessible regions.
