In May 2024, the Nigerian government mandated that all point-of-sale (PoS) operators register with the Corporate Affairs Commission (CAC) by July 7, 2024, to combat fraud and enhance transparency.
Recently, the CAC announced an extension of the registration deadline to September 5, 2024. This update was provided on Saturday, accompanied by a warning that operators who fail to comply by the new deadline may face prosecution and the potential closure of their businesses.
The extension aims to assist operators in remote areas who have encountered network issues during the registration process. Numerous operators have reported difficulties with online registration, prompting intervention from Lagos State Governor, Babajide Sanwo-Olu.
Governor Sanwo-Olu proposed simplifying the registration process, akin to the state’s tax card system, to enable the government to manage infrastructure more effectively without imposing undue burdens on businesses.
In summary, PoS operators are strongly advised to complete their registration by September 5 to avoid significant legal and operational repercussions.
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