POS operators kick against CAC registration imposed by Tinubu’s govt

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The move by the Central Bank of Nigeria for PoS operators to register their agents, merchants, and individuals with the Corporate Affairs Commission CAC) has been met with protests.They also argued that the cost of the registration would deplete the profits of the business.

According to an agent, Mr Kofi Kolawole, the registration would deplete the profits of the business, and it would also discourage people from entering the business. “This means that the cost we charge on each transaction will increase, so our customers will bear the cost,’’ he said. Agbasi said that directive would cause many customers to save their cash at home rather than being charged heavily for their online transactions.

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