Mobile money operator seeks shift in CAC registration


May 21, 2024

Atanda made this remark in an interview with the News Agency of Nigeria (NAN) on Tuesday in Lagos.

“Currently the CAC portal is very slow because of traffic.

“It takes up to three to four days for someone to even access the portal for association we engage an agent that is doing the registration,” he said.

According to him, it is possible for everyone to register.

He said business owners needed to be sure they want to register because of the requirements and also some developments that would come aftermath the registration.

NAN reports that Point of sale (PoS) operators had revealed plans to sue the Corporate Affairs Commission (CAC) over mandatory registration requirements.

On May 6, CAC and financial technology (fintechs) companies agreed to a two-month timeline to register their agents, merchants, and individuals with the commission.

CAC said the deadline for registration is set for July 7.

According to the commission, the action is equally backed by Section 863 (1) of the Companies and Allied Matters Act, (CAMA) 2020, as well as the 2013 Central Bank of Nigeria (CBN) guidelines on agent banking.


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