CAC warns unregistered PoS operators as deadline expires

The Corporate Affairs Commission has reminded Point of Sale operators across Nigeria that the deadline for business registration, initially announced on July 7, 2024, expired on September 5, 2024.

In a statement released on Friday, the CAC expressed concerns over inadequate compliance with the directive, despite the large number of PoS operators in the country.

However, CAC commended operators who have taken steps to formalize their businesses, praising their “positive attitudes” towards compliance.

The Commission noted with concern the significant number of operators who have not adhered to the directive.

The statement read, “Recalcitrant operators have refused to adhere to the advice for formalization due possibly to engagements in unwholesome activities or for some reasons best known to them.”

The CAC emphasised that it is working in collaboration with law enforcement agencies and other relevant stakeholders to implement a comprehensive enforcement and sanction framework.