The Corporate Affairs Commission wishes to remind the general public particularly Fintech operators also known as Point of Sale (POS) operators, that the 60 days deadline given in daily newspaper publications of July 7 2024, for the registration of such businesses expired on September 5, 2024.
The Commission notes inadequate compliance with the directive for formalization when viewed from the background of the large number of POS operators in the country. Those that have taken steps to formalize in line with Commissions directive are commended for their positive attitudes.
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.
We are to make it clear that the Commission is working with Law Enforcement Agencies and other relevant stakeholders to deploy comprehensive enforcement and sanction framework that may include not only possible shutdown but other severe legal Consequences.
Signed:
Management
6th September, 2024
CAC ……Committed to Prompt and Efficient Service