POS Agents, SMEs Must Register with CAC Before Deadline

Ahead of the mandatory business registration deadline with the Corporate Affairs Commission (CAC), the agency’s ambassador, Michael Nwabufo, has urged point-of-sale (POS) agents and small businesses to comply promptly.

Nwabufo, a talent and brand manager, emphasized in a recent statement in Lagos that business owners must avoid complications by ensuring their registration before the window closes.

Highlighting the importance of the deadline, which is five days away, Nwabufo encouraged businesses to utilize the CAC Special Registration Portal (SRP) or the Practitioners of Content Creating, Skit-making, and Influencers Guild (PCCSIGN) platform for registration.

“This initiative is a significant step forward, offering a more accessible, efficient, and user-friendly registration process for all Nigerians. We encourage small businesses, particularly point-of-sale agents, to register via the SRP. This formal registration not only provides legal recognition but also enhances credibility and opens up opportunities for growth,” he said.

Nwabufo noted that the SRP features a user-friendly interface with significantly reduced registration and approval times. He added that the CAC had partnered with the PCCSIGN platform to further simplify the process.

He pointed out that the PCCSIGN platform offers a registration process tailored to the community’s needs, providing an additional avenue for swift and efficient registration.

“The CAC deadline for the registration of POS agents and other small businesses is crucial; all registrations must be completed by July 7,” Nwabufo stated.

In May, the Registrar-General of the CAC, Hussaini Magaji (SAN), directed POS agents of major fintech companies in Nigeria, including OPay, Palmpay, and Moniepoint, to register their businesses by July 7.

The CAC is currently processing about 15,000 applications daily, including weekends, as part of its fintech regularization program.