News
CAC registration: Police to go after illegal PoS operators
By Francesca Hangeior
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.
The Registrar-General, CAC, Hussaini Magaji, disclosed this at the formal launch of the CAC registration of agents and merchants of fintechs on Wednesday in Abuja.
The event also marked the unveiling of a 24-hour service centre to help prospective applicants get a prompt response to enquiries and approvals.
The government had through the commission on Monday issued a two-month registration deadline for PoS operators to register as corporate bodies with the commission in line with the legal requirements and directives of the Central Bank of Nigeria.
The action backed by Section 863, Subsection 1 of the Companies and Allied Matters Act, CAMA 2020 as well as the 2013 CBN guidelines on agent banking aims to safeguard businesses and strengthen the economy.
It also came against the backdrop of frequent fraud incidents involving PoS terminals and plans to stop trading in cryptocurrency or any virtual currency by the Central Bank of Nigeria.
PoS terminals accounted for 26.37 per cent of fraud incidents in 2023, according to a fraud report by the Nigeria Inter-Bank Settlement System Plc.
Last week, the CBN stopped major fintech firms like Kuda, Opay, PalmPay and Moniepoint from onboarding new customers. The fintech firms later warned their customers against trading in cryptocurrency or any virtual currency on their apps, threatening to block any accounts found engaging in such activities.
Speaking at the event, Hussaini reiterated the government’s resolve to fully implement the mandate by providing a fully digitised service centre for easy registration.
He emphasised that the registration process aligns with both legal requirements and the directives of the CBN mandating individual, merchant or business entities to be captured in its database.
He further warned that the 60-day deadline would not be extended while stressing that defaulters would receive adequate punishments after the deadline.
He said, “We have launched a 24-hour service centre to accommodate enquiries from Point of Sales operators and agents who may want to register as directed by the new policy.
The secretariat is filled with staff members who have the responsibility of availability, and some are being saddled with the responsibility of approving requests. We have equipped the secretariat with the necessary facilities.
“This is to show you how the government is taking this issue seriously and the centre will be open for a 24-hour service. It will be open for compliance and any feedback from the public especially PoS operators who have been mandated to register their businesses with the commission.”
He added, “We have trained our staff to accommodate these activities and these staff can work from home and that’s why we said 24-hour service. We have equipped them with facilities and they can work from home for approvals and availability segment. The deadline remains 60 days and it will end July 7th.”
The CAC boss further stated that the timeline was not intended to target specific groups or individuals but genuinely aimed at safeguarding businesses.
The CAC boss explained, “Of course, the mandatory registration will reduce crime and fraudulent practices, the commission is hosting data and if any crime is committed anywhere, the security agencies would have to reach us to know the people behind the company and the fraudsters. But if they are not registered, we can’t do anything and that’s the essence of the registration.
“We have had a situation where a ransom is being paid with a PoS terminal and a lot of fraud but after the registration, if anything happens we can provide the details of the persons behind the company to the government. We will capture the picture and other relevant information and this is a good development for the country.”
He stressed that “after the deadline, we would go after defaulters, If you have been identified as a criminal, security agents will go after you, we will go after them because some are being chased by the security agencies already.”
He elaborated on the benefits of registration, emphasising that it goes beyond taxation to encompass access to loans, legality, and compliance with regulatory requirements.
“The law has stated that for any person to carry out business activity in the country, your business must be legitimate and for your business to be legitimate you must register, either you are doing your business as an individual or as an agent, you must register with us’.
…hails emergence of Bawa as state chairman
The Senator representing Taraba Central Senatorial District Senator Manu Haruna on Sunday donated five operational vehicles to Taraba Peoples Democratic Party, PDP to enhance its operations.
Manu also seized the opportunity to congratulate the state Chairman, Hon Abubakar Bawa when he visited the secretariat in Jalingo last Sunday.
The former State Deputy Governor expressed his congratulations to Chairman Bawa and the state working committee for their election, emphasizing the importance of unity and progress within the party. He commended their commitment to strengthening the People’s Democratic Party (PDP) in Taraba State.
In a generous move to enhance the operational capacity of the party at the grassroots level, Senator Manu donated five vehicles — one for each Local Government Area (LGA) party chapter in Taraba Central.
This donation is intended to facilitate better coordination and outreach efforts within the party.
Senator Manu praised Hon. Abubakar Bawa for his dedicated efforts to elevate the PDP in the state, asserting that Taraba will always remain a stronghold for the party.
In response, State Party Chairman Alhaji Bawa expressed his heartfelt gratitude to Senator Manu for his thoughtful visit and generous donation. He acknowledged the impact of such contributions on the party’s progress and reemphasized the commitment of the PDP to serve the interests of the people in Taraba State.
By Francesca Hangeior
The Attorney General of the Federation and Minister of Justice, AGF, Prince Lateef Fagbemi, SAN, has canvassed for greater efforts and commitments to the Federal Government’s aspirations to produce a workable legal framework for the country.
He charged the Committee put in place by the federal government to review, revise and consolidate the Laws of the Federation of Nigeria, LFN, to double the efforts and commitments to deliver on the mandate at the appointed time.
Fagbemi, a Senior Advocate of Nigeria, spoke on Monday in Abuja at the second retreat of the Committee put in place in October last year for the laws of the federation revision and reform.
The AGF while challenging the committee to be up and doing asked the members to remain united in purpose and steadfast in the resolve to produce a legal framework that is worthy of the nation’s aspirations.
He said the second retreat organized by the federal government was a strategic consolidation of the national law reform efforts and to provide an invaluable opportunity to come up with a better workable legal framework for the nation.
“Let me start by expressing gratitude to the Chairman, Co-Chairperson and members of the Committee for their selfless service and sacrifice, to ensure that this project is executed efficiently and effectively.
“The call to be part of this assignment is indeed a sacred that inevitably and positively affects the lives of individuals, government, businesses as well as citizens of this nation.
“The general purpose of law is to regulate human behavior by protecting lives and properties in society. The inauguration of the Committee on the 24th October, 2024 marked a historic milestone in our collective efforts to modernize, consolidate, and harmonize Nigeria’s body of federal statutes.
“The retreat successfully provides a clear framework for the structure and methodology of the revision exercise, oriented the 14 Working Groups tasked with reviewing specific legal subject areas, and fostered collaboration among key institutions and stakeholders on the project.
“Following the initial retreat, I wish to note that the Committee has recorded steady progress in its work.
“The Ministry has taken several measures to ensure that the assignment is delivered efficiently, including:training sessions for secretaries of the working groups to enhance documentation and coordination; technical meetings of the main committee and its various sub-committees; working sessions and deliberations among editors and reviewers; and ongoing technical collation of revised laws by the Secretariat.
“This second retreat is a strategic consolidation of our national law reform efforts and provides an invaluable opportunity to: review progress made since the first phase;
address any technical or structural challenges encountered during the collation process;
– Harmonize the output across working groups; and set the tone for the final stages of this important project.
“The next stage of the law review and consolidation process would include editing and proofreading the reviewed legislation, ahead of the final collation, production and printing of the laws of the federation.
“It is my conviction that these phases will be executed with even greater commitment by the Committee, with the support of stakeholders and development partners.
“I wish to commend the leadership of the LFN Committee, the Secretariat for its diligent coordination and day-to-day management as well as the Working Groups, Editors, and Reviewers, for their intellectual rigour and professionalism.
“Special gratitude to our development partners, particularly RoLAC, for standing firmly behind this national project.
“Let me urge all participants to use this retreat as a platform for robust engagement, peer learning, and practical collaboration.
“We must remain united in purpose and steadfast in our resolve to produce a legal framework that is worthy of our nation’s aspirations.
” I wish to express gratitude for your commitment to duty and I charge you to work in synergy and cooperation, in the overall interest of the nation”, the AGF said.
The Rivers State Sole Administrator, Vice Admiral Ibok-Ete Ibas (retd.), has replied to the Nigerian Bar Association regarding the reason for relocating its Annual General Conference from Port Harcourt to Enugu State.
Ibas faulted the reason cited by the NBA, describing it as misleading and uncharitable.
The Sole Administrator stated this in a statement issued in Port Harcourt on Monday by his media aide, Hector Igbikiowubo, and sent to newsmen.
He said while the NBA reserves the right to choose a venue for its conference, the association had yet to address the issue of the refund of the hosting rights paid by the state government for the conference.
The statement partly reads, “While we respect the NBA’s right to choose its conference venues, we find it curious that the association—despite its “principled position”— didn’t address the refund of the N300 million already paid by the Rivers State Government for the hosting rights of the 2025 conference.
“If the NBA truly stands on principle, it should demonstrate the same integrity by promptly returning these funds rather than benefiting from a state it now publicly discredits.”
It added, “The attention of the Rivers State Government has been drawn to the Nigeria Bar Association’s announcement dated 10th April 2025, relocating its 2025 Annual General Conference from Port Harcourt to Enugu.
The statement partly reads, “While we respect the NBA’s right to choose its conference venues, we find it curious that the association—despite its “principled position”— didn’t address the refund of the N300 million already paid by the Rivers State Government for the hosting rights of the 2025 conference.
“If the NBA truly stands on principle, it should demonstrate the same integrity by promptly returning these funds rather than benefiting from a state it now publicly discredits.”
It added, “The attention of the Rivers State Government has been drawn to the Nigeria Bar Association’s announcement dated 10th April 2025, relocating its 2025 Annual General Conference from Port Harcourt to Enugu.
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