Why POS Operators Don’t Require CAC Registration as Deadline Expires – AMMBAN
The Association of Mobile Money & Bank Agents in Nigeria (AMMBAN) has clarified that its members are not required to register with the Corporate Affairs Commission (CAC) to legally operate in Nigeria.AMMBAN’s General Secretary, Elegede Segun, explained that Point of Sale (POS) operators are permitted under Nigerian law to operate as individuals or non-entities.He dismissed claims about the existence of illegal POS operators, stressing that requirements such as Call Terminal Identification from the Nigeria Inter-Bank Settlement System (NIBSS), a valid bank account, Bank Verification Number (BVN), and National Identity Number (NIN) already provide sufficient regulation and security for operators.Segun questioned the rationale behind CAC’s insistence on compulsory registratio...










