To legalise and strengthen the Fintech industry in Nigeria, the Corporate Affairs Commission (CAC) and POS operators have agreed to a two-month timeline to register their agents, merchants, and individuals with the Commission. This is in line with CAC legal requirements and the directives of the Central Bank of Nigeria.
Speaking in Abuja at the meeting between Fintechs, the Registrar-General of CAC, Hussaini Ishaq Magaji, said the measure is targeted at safeguarding the businesses of Fintech’s customers and strengthening the economy.
He further stressed that the action was equally backed by Section 863, Subsection 1 of the Companies and Allied Matters Act, CAMA 2020, as well as the…
Source: Nigerian Tribune
