The Federal Government has issued a two-month ultimatum to all Point of Sale (PoS) operators in the country to register their business with the Corporate Affairs Commission (CAC).
This is coming after the FG announced the new 0.5% cybersecurity levy added to all bank electronic transactions. This agreement was reached in a meeting with the Registrar-General of the CAC, Hussaini Ishaq Magaji, and fintech companies on Monday, 6th May 2024.
The Commission advised PoS companies to register their businesses as the window is open from now till 7th July 2024. This new directive is to provide safety for businesses, prevent fraudulent practices among PoS agents, and stop the trade of cryptocurrency across all platforms.