JUST IN: CBN requires POS owners to register with the Government

 The Central Bank of Nigeria (CBN) has given a deadline of July 7, 2024 for POS owners to complete registration with the country's Companies Registration Commission (CAC).

 This was revealed when there was a meeting between the country's financial companies and the head of the Companies Registration Board, Hussaini Magaji in Abuja on Tuesday.

 Speaking at the meeting, the CAC chairman said the two-month deadline for registration was "in accordance with the law and the instructions of the Central Bank of Nigeria".

 A statement issued by the CAC added that "The decision was taken to protect the people dealing with financial institutions and to stimulate the economy.