Nigeria, May 8 -- The Corporate Affairs Commission on Monday mandated all Point of Sales (PoS) agents of major financial technology companies in Nigeria to register their businesses.

The Registrar-General of the CAC, Hussaini Magaji, disclosed this in a statement released by the commission, stating that it was agreed upon with the PoS operators during a meeting in Abuja.

He emphasised that the registration process aligns with both legal requirements and the directives of the Central Bank of Nigeria (CBN).

Mr Magaji clarified that the registration timeline was not intended to target specific groups or individuals but was genuinely aimed at safeguarding businesses.

"Hussaini Magaji, therefore, said that the timeline for the registration...