The federal government said unregistered Point of Sales operators will be arrested after July 7th, 2024, deadline.
The government had announced compulsory registration with the Corporate Affairs Commission, CAC, for PoS operators on grounds that the registration would curb prevalent insecurity, particularly ransom payments arising from kidnapping.
On Wednesday, Registrar-General, CAC, Hussaini Magaji, at the formal launch of the CAC registration of agents and merchants of fintechs in Abuja said operators who didn’t submit themselves to the registration after the deadline will be arrested.
Mogaji also told of the readiness of CAC to provide 24-hour service to ensure the exercise is hitch free.
According to him, “after the deadline, we would go after defaulters, If you have been identified as a criminal, security agents will go after you, we will go after them because some are being chased by the security agencies already.”
He said further, “Of course, the mandatory registration will reduce crime and fraudulent practices, the commission is hosting data and if any crime is committed anywhere, the security agencies would have to reach us to know the people behind the company and the fraudsters. But if they are not registered, we can’t do anything and that’s the essence of the registration.
“We have had a situation where a ransom is being paid with a PoS terminal and a lot of fraud but after the registration, if anything happens we can provide the details of the persons behind the company to the government. We will capture the picture and other relevant information and this is a good development for the country.”
