FINTECH Companies applaud CAC RG for seamless registration of POS Operators

FINTECH Operators in Nigeria has commended Corporate Affairs Commission for speedy registration of their agents.


The Operators made the commendation today during a meeting between the Registrar General/CEO, Corporate Affairs Commission, Hussaini Ishaq Magaji, SAN with Fintech Companies representatives at the Commission’s Headquarters.

The Registrar General in his opening remarks praised the Operators for honouring the invitation. He stated that the essence of the meeting was to review their performance with regards to the registration of their agents ,appreciate their efforts as well as ascertain their individual challenges with a view to proferring solutions to enable them meet up with the July 7, 2024 deadline for the registration of all terminal operators under the Agent Banking System.


Dr Maxwell Loko Managing Director, Opay in his response, applauded the RG for creating a special dedicated portal for the registration of all agents. This according to him has made the registration process seamless.


He equally commended the Commission’s Staff for their hard work and speedy resolution of issues. He advised other operators present at the meeting to use the available vast portal in order to beat the set deadline date.


Commenting further, Mr Chika Nwosu,Managing Director,PalmPay thanked the RG for ensuring that all pending applications were cleared.He thanked the RG for the policies put in place to fast track delivery of the ever surging applications.


Also speaking, Mr James Edeh, Managing Director, Fair Money opined that they were done with their system set up and they would go live on the platform before this week ends.He however appealed for a slight extension in time so as more of their agents could be brought on board.


On the above request for extension of time, the Registrar General said it might not be ruled out but that inputs would be required from other stakeholders on it and that there will be consequences as any registration that is submitted after the July 7 deadline will be treated with a penalty for late registration.


Recalled that the FINTECH operators (POS) were at the Commission in May 2024 when the timeline for registration of all POS operators was fixed for 7th July 2024 in line with the provisions of the Law.




Also present were Mr. Tokoni Peter Igoni (SA to the President on ICT), Mr. Salihu Dasuki (OVP), Mr. Duke Ukaga (Director, Customer Service) Mr, Dominic O. Inyang (Head, Public Affairs), Mr. Mohammed Sadiq Ali (Chief of Staff/Technical Assistant to the Registrar General) and other aides to the RG.

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