Tag: PoS
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RE VEALED! Only 100,000 POS operators registered in Nigeria , Says CAC
The Registrar General of the Corporate Affairs Commission, Hussaini Ishaq Magaji has revealed that only 100,000 Point of Sale (POS) operators have officially registered their businesses with the commission as part of its POS formalization project. Magaji said this during the in-house enforcement and compliance training for state offices on Monday in Abuja, Magaji said…
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CBN gives directive to start monitoring all PoS transactions
The Central Bank of Nigeria (CBN) has ordered payment service providers to begin the tracking of all Point of Sale (PoS) transactions. In a circular to all Payment Service Providers (PSPs) on connectivity to payment terminal service aggregators, the apex bank handed a 30-day deadline to PSPs to regularise with Payment Terminal Service Aggregators (PTSA).…
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After deadline: CAC vows to arrest PoS operators who failed to register
The Corporate Affairs Commission has vowe to clampdown on PoS who failed to register after its deadline expired on September 5. The regulatory body reminded Point of Sale operators across Nigeria that the deadline for business registration, initially announced on July 7, 2024, expired on September 5, 2024. TheNewsGuru.com reports this was contained in a…
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POS agents, businesses told to avoid delay in CAC registration
Michael Nwabufo (aka Mike Premium), the Ambassador for the Corporate Affairs Commission (CAC), on Tuesday urged Point of Sales (POS) agents and small business to avoid delay in meeting the July 7 deadline for CAC registration.
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Millions of naira recovered as Police nab POS syndicate
The Katsina State Police Command on Thursday arrested a four-man gang specialized in swapping Point-of-Sale (POS) machines to steal from unsuspecting victims. ASP Abubakar Aliyu Sadiq, the Command’s Public Relations Officer, ASP Abubakar Aliyu Sadiq, paraded the suspects during a press briefing held at the Command’s headquarter on Thursday.
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Mandatory CAC registration: Police to arrest illegal PoS operators
The Federal Government has said mandatory registration of Point-of-Sales operators nationwide will reduce kidnapping and help security agencies arrest recipients of ransom payments from kidnap victims. It also vowed that security agencies would go after PoS operators who fail to comply with the directive to register with the Corporate Affairs Commission after July 7, 2024.…
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FG orders registration of 1.9m PoS operators, gives 60 days deadline
The Federal Government through the Corporate Affairs Commission has issued a two-month registration deadline to Point of Sales companies, to register their agents, merchants, and individuals with the commission in line with legal requirements and the directives of the Central Bank of Nigeria. The agreement was reached on Monday during a meeting between Fintechs and…
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20-year-old fuel attendant jailed for embezzling money from POS
A Jos Magistrates’ Court on Friday sentenced a 20-year-old fuel attendant, Henry Dung to six months imprisonment for stealing N521,000. Magistrate Shawomi Bokkos, summarily sentenced Dung after he pleaded guilty.
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Fix service charge, go to jail or pay N10 million fine – FG warns PoS agents
The federal government has issued out warnings to Point of Sale, PoS agents, saying anyone found guilty of price fixing will pay a fine of up to N10 million or three months prison sentence.
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FG to stop PoS operators from increasing service charge
The Federal Government through the Federal Competition and Consumer Protection Commission (FCPCC) is set to issue an order to stop Point of Sale agents and operators from increasing service charges across the country. This was made known to pressmen by the Executive Vice Chairman/Chief Executive Officer, Babatunde Irukera on Wednesday. According to him, the order…