CAC Streamlines PoS Registration with New Centre

The Corporate Affairs Commission (CAC) has launched a dedicated center for bulk registration of Point of Sale (PoS) operators in its database.

The center, located at the CAC’s Federal Capital Territory Office in Abuja, was inaugurated by the Registrar-General, Hussaini Magaji, on Wednesday.

Magaji revealed the importance of registering PoS operators in the commission’s database, stating that it will enhance financial inclusion, combat fraud, and strengthen the fight against financial crimes.

The center is equipped to operate 24/7 and provides a seamless registration process for PoS operators.

The CAC has integrated with Fintech companies, allowing them to register their agents, merchants, and individuals on their platforms, which are linked to the CAC’s database.

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It enables the generation of certificates and transmission of registration details directly to the Fintech platforms.

Magaji reiterated that the center is open to all Fintech operators who voluntarily register their agents and merchants with the CAC.

He explained that the registration is in line with President Bola Tinubu’s vision for financial inclusion and the fight against fraud and financial crimes.

The CAC Boss stressed that registering PoS operators would enable the government to trace perpetrators of crimes committed using PoS machines.

He added that the registration ensures that operators provide detailed information, including their NIN, passport photograph, and other relevant documents, which will help capture more people in the formal sector.