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CAC talks tough after deadline given to PoS operators elapsed
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By Mario Deepromoter
The Corporate Affairs Commission has vowed to clampdown on PoS operators who failed to follow stipulated guidelines which expired on September 5.
It reminded Point of Sale operators across Nigeria that the deadline for business registration, initially announced on July 7, 2024, expired on September 5, 2024.
Naijablitznews reports this was contained in a statement released on Friday, the CAC expressed concerns over inadequate compliance with the directive, despite the large number of PoS operators in the country.
However, CAC commended operators who have taken steps to formalize their businesses, praising their “positive attitudes” towards compliance.
The Commission noted with concern the significant number of operators who have not adhered to the directive.
The statement read, “Recalcitrant operators have refused to adhere to the advice for formalization due possibly to engagements in unwholesome activities or for some reasons best known to them.”
The CAC emphasised that it is working in collaboration with law enforcement agencies and other relevant stakeholders to implement a comprehensive enforcement and sanction framework.
The measures may include the shutdown of non-compliant businesses and other severe legal consequences.
“We are to make it clear that the Commission is working with Law Enforcement Agencies and other relevant stakeholders to deploy comprehensive enforcement and sanction framework that may include not only possible shutdown but other severe legal consequences,” the statement read.
The Federal Government, through the Corporate Affairs Commission, had previously set a two-month deadline for POS operators to register their agents, merchants, and individuals with the commission in compliance with legal requirements and the directives of the Central Bank of Nigeria.
This directive was issued in response to a rise in fraud incidents involving POS terminals and CBN’s plans to prohibit trading in cryptocurrencies and other virtual currencies.
A report from the Nigeria Inter-Bank Settlement System Plc revealed that POS terminals were involved in 26.37 per cent of fraud incidents in 2023.
The CAC stated that the registration initiative aims to reduce fraud within the system, as well as combat kidnapping and the payment of ransoms.
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2027: ADC has no blueprint to rescue Nigeria – Atiku’s political acolyte Aliyu dumps party, joins APC
Aslam Aliyu, a political acolyte of the African Democratic Congress, ADC, presidential candidate, Atiku Abubakar, has dumped the party and joined the ruling All Progressives Congress, APC.
In a statement, Aliyu said the ADC does not have a concrete rescue plan for Nigeria, stating that her decision followed a long reflection on Nigeria’s political direction and the capacity of the opposition to provide alternative governance.
According to her, for almost two decades, she had worked tirelessly within the political camp of Atiku, noting that throughout the entire period, her loyalty never wavered.
She, however, stressed that after almost two decades of dedicated engagement, it has become undeniably clear that the opposition lacks a meaningful development blueprint or a viable and sustainable national rescue plan.
“The ADC has no concrete plan for the country, other than to criticise the government without bringing a single viable solution to the table. Political culture must move past theatrical criticism and embrace measurable progress.
“I am a mother, calling on patriotic Nigerian youths, women, and forward-thinking opposition members to abandon counterproductive politics and join hands with President Bola Ahmed Tinubu,” she said.
“There is no vacancy in Aso Rock Villa, as Bola Ahmed Tinubu will emerge as the winner of the presidential election come 2027, by the grace of Almighty Allah,” she said.
The Zamfara-born politician further stated that her defection was driven by a desire to contribute more effectively to national development under a structured political platform.
News
‘Fake’ agency: Angry Gbajabiamila threatens Adeyemi with N10bn defamation lawsuit
Chief of Staff to the President, Femi Gbajabiamila, has threatened legal action against Prince Adeniyi Adeyemi, demanding N10 billion in damages over allegations linking him to murder, bribery, and other criminal activities.
This was contained in a letter dated July 6, 2026, signed by Senior Advocate of Nigeria, Kemi Pinheiro, on behalf of Pinheiro LP, the legal representatives of the Chief of Staff.
The letter reads in part, “The publication which has been extensively circulated across several print, electronic and social media platforms and has consequently attracted widespread public attention, contains numerous statements which are not only false, malicious, reckless and entirely without factual foundation, but were clearly designed to portray our client as corrupt, dishonest, criminally culpable, morally bankrupt, administratively incompetent, a murderer and unfit to occupy public office.
“In particular, in your press conference, you falsely alleged, among other things, that our client demanded or requested forty-eight percent (48%) of the alleged take-off grant of an entity described as the Presidential Foreign Intervention Promotion Council, received the sum of 400,000,000.00 by proxy in connection with appointments relating to the said entity, abused and exploited his office as Chief of Staff to intimidate individuals and media organizations,
“Knowingly participated in fraudulent governmental processes relating to the national budget acted dishonestly and in a manner warranting his resignation from public office sought to manipulate or misuse security agencies against you may have acted under the influence of intoxicating substances in the discharge of his official duties and engaged in conduct suggestive of corruption, abuse of office, criminality and gross misconduct is a murderer, assassin and participated in a criminal cover-up.
“These allegations are not only false but are gravely defamatory. They plainly convey to ordinary, reasonable members of society that our client is corrupt, dishonest, criminally culpable, morally bankrupt, unfit for public office, violent, dangerous and undeserving of public trust.”
Gbajabiamila’s lawyers demanded that Adeyemi, within 72 hours of receiving the letter, cease making or publishing further defamatory statements, remove the alleged offending press conference and related materials from all platforms under his control, and publish a full, unequivocal and unreserved retraction and apology.
The lawyers further demanded that the apology be published with the same prominence as the original allegation in at least five national newspapers, across all platforms where the disputed publication appeared, and on every social media account used to disseminate it.
In addition, the legal team also requested that a written undertaking be submitted to their law firm, assuring that no further defamatory statements would be made against their client.
However, according to the letter, failure to comply with the demands within the stipulated period would with no option but to initiate both criminal and civil proceedings.
The proposed legal action would include a criminal complaint for alleged criminal defamation under the laws of the Federal Capital Territory, FCT, as well as a civil suit seeking N10 billion in aggravated and exemplary damages, which they said would be donated to charities of Gbajabiamila’s choice.
The legal team also said it would seek a perpetual injunction restraining any further defamatory publications and a mandatory court order compelling Adeyemi to publish a retraction and apology.
Recall that Adeyemi held a press conference on June 25, accusing Gbajabiamila of seeking a share of the alleged take-off funds of the Presidential Foreign Intervention Promotion Council, PFIPC, receiving money through intermediaries, abusing his office and participating in efforts to conceal wrongdoing.
News
DAY 20 of Projects Commissioning in the FCT
President Tinubu To Commission Transit Way N2 from Central Business District to Wuse District With Two Bridges Today
#ProjectsFCT2026
#FCT31DaysCommissioning
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