HOW TO REGISTER YOUR POS BUSINESS ON CAC (USING ACCREDITED AGENT - MONIEPOINT)
The Corporate Affairs Commission on has directed all PoS agent and operators in the country to register their businesses and the deadline for registration has been set at July 7, 2024.
This POS business registration with CAC is robustly supported by major fintechs who are major players in the POS business. At the meeting where the decision to mandate all POS business operators to register as a business with CAC was signed, representatives of Moniepoint, Opay, Palmpay, Fairmoney , etc were all present.
One of the rationale that has brought about the need for POS business regular with CAC is tackling the high rate of POS fraud in the country. Failure to adhere to the directive of POS business registration with CAC after deadline may get the offender arrested by the police.
According to them, the directive is targeted at safeguarding businesses and is backed up by law, Section 863, Subsection 1 of the Companies and Allied Matters Act, CAMA 2020, and the 2013 CBN guidelines on agent banking.
To even ensure a smooth exercise and to show seriousness, the corporate affairs commission have even set up registration centers in Abuja for bulk registering.
To do the POS business registration cost some money but it costs more when you contract the services of an Accredited agent. But to reduce cost significantly, you can do CAC POS business name registration by yourself without an Accredited Agent.
This video brings you step by step processes by which you can do your POS business registration with CAC by yourself. Remember to SUBSCRIBE AND SHARE the video.👇👇
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