Some Point-of-Sale (PoS) operators in Abuja have threatened to hike transaction charges for customers over the recent directive from the Corporate Affairs Commission (CAC) mandating them.to register
The CAC had set a two-month deadline for operators to register their agents, merchants, and individuals, citing legal requirements and directives from the Central Bank of Nigeria (CBN).
Kofi Kolawole, a PoS agent, expressed concern that the registration would eat into their profits and discourage newcomers from entering the business.
Clement Agbasi emphasized that the directive contradicts the CBN’s financial inclusion initiative, potentially driving customers to hoard cash instead of utilizing online transactions.
While acknowledging the importance of registration, Loretta Ubong urged the CAC to ensure that it does not harm businesses, particularly those like hers, which rely on PoS income to cover expenses.
However, some customers, like Ndidiamaka Ibe, see the registration as a necessary step to curb financial fraud and improve accountability within the PoS system.
CAC has however defended the registration, stating its aim to protect fintech customers’ interests and bolster the economy, with a deadline set for July
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