Just another News Updates
The Corporate Affairs Commission (CAC) has extended the mandatory registration deadline for Point of Sales (POS) agents, super agents, and sole agents to September 5, 2024. This decision provides a 60-day extension from the initial deadline of July 7, 2024. In a statement posted on its Facebook page on Saturday, the CAC explained that the […]
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 […]
The Federal Capital Territory (FCT) police command has apprehended a Point of Sale (PoS) operator, Sunday Musa, also known as Dan Gwari, for allegedly supplying sex workers to bandits and distributing money to their families in Kagarko Local Government Area of Kaduna State. Benneth Igweh, the FCT commissioner of police, revealed the arrest while parading […]
The National President of the Association of Mobile Money and Bank Agents in Nigeria (AMMBAN) announced plans to take legal action against the Corporate Affairs Commission (CAC) over the mandatory registration directive for its members. President Fasasi Sarafadeen criticized the CAC’s directive requiring PoS operators to register, arguing that it contradicts the Companies and Allied […]
The Federal Government has emphasized that mandatory registration of Point-of-Sales (PoS) operators nationwide will contribute to reducing kidnapping incidents and aiding security agencies in apprehending recipients of ransom payments. Failure to comply with the directive to register with the Corporate Affairs Commission (CAC) after July 7, 2024, will result in action by security agencies against […]
The Inspector-General of Police (IGP), Kayode Egbetokun, has enforced a prohibition on the use of point-of-sale (POS) machines and other electronic mobile money transaction devices within police stations and facilities across Nigeria. According to police spokesperson Olumuyiwa Adejobi, the ban comes in response to public concerns regarding alleged illegal transactions involving POS operators and certain […]
A banker identified as Soberechukwu Ewa has been apprehended by the Economic and Financial Crimes Commission (EFCC) for purportedly vending new naira notes to a Point of Sales (POS) cashier named Azubuike M. Obasi. In a recent statement by EFCC spokesperson Dele Oyewale, it was disclosed that the arrests occurred at Ecobank, Rumuobiakani, and Maddox […]
The Central Bank of Nigeria (CBN) has issued a cautionary statement addressing the issue of cash availability with Point-Of-Sale (PoS) operators. In a statement signed by the Acting Director of Communication and Public Relations, Sidi Ali, on Thursday, the CBN highlighted concerns about collusion between some Deposit Money Banks and PoS operators. This collaboration has […]
The Central Bank of Nigeria (CBN) has barred agents from using Point of Sale (PoS) terminals meant for merchants to carry out cash-in and cash-out transactions. The apex bank disclosed this in a circular announcing the Exposure Draft of the Regulatory Framework for Agent Banking in Nigeria. According to the CBN, the agent banking initiative […]
The Zamfara government has disbursed N70 million to empower 300 Point-of-Sale, PoS, operators to fast-track implementation of the cashless policy of the Central Bank of Nigeria, CBN. The Commissioner for Commerce and Industries, Yazeed Danfulani stated this while distributing PoS machines to 300 youth and women on Wednesday in Gusau. He said the gesture was […]