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CAC extends POS registration deadline to Sept 5

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The Corporate Affairs Commission has announced the approval to extend the mandatory Point of Sales agents, super agents, and sole agents registration to September 5, 2024.

The commission announced in a statement signed by its management and posted on its Facebook page on Saturday, giving a 60-day extension.

It said the extension is to give sufficient time to operators particularly those in remote areas who might have encountered network challenges to so register and continue with their businesses.

The statement read, “The Corporate Affairs Commission wishes to notify Fintech Operators also known as Point of Sales Operators that the initial deadline of 7th July 2024 given for the registration of sole Agents, Super Agents, and Agents has been extended for sixty days beginning from 7th July 2024 to the 5th September 2024.

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“This is to give sufficient time to Operators particularly those in remote areas who might have encountered network challenges to so register and continue with their businesses.

It added operators who continue to disobey after the new deadline will risk losing their businesses and facing prosecution for assisting criminal activities.

“Operators who fail or refuse to register at the end of the extended deadline run the risk of losing such businesses and prosecution for aiding and abetting criminal activities.”

Two months ago, the CAC announced that PoS agents of major fintechs in Nigeria including OPay, Palmpay, and Moniepoint, among others, have been given a deadline of July 7, 2024, to register their business.

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The Registrar-General of the CAC, Hussaini Magaji, who announced this said this was the agreement with the PoS operators after a meeting in Abuja.

According to him, the registrations also align with the legal requirements and the directives of the Central Bank of Nigeria.

He added that the action was equally 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.

He said the registration is aimed at safeguarding the businesses of fintechs and customers and strengthening the economy.

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Boxing world split as 58-yr-old Tyson goes back to ring 19yrs after retirement

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Nearly 40 years after his professional debut, and 19 years after retiring, 58-year-old Mike Tyson will return to the ring on Friday in a Netflix-backed bout that has stirred widespread condemnation in the boxing world.

Tyson, who dominated the heavyweight division in the late 1980s, will lace up the gloves once more to face YouTuber Jake Paul, 27, in an officially sanctioned fight at AT&T Stadium, home of the Dallas Cowboys, in Arlington, Texas.

The bout, set for eight two-minute rounds, was initially scheduled for July but was postponed in May when Tyson required medical treatment after vomiting blood on a flight from Miami to Los Angeles due to a bleeding ulcer.

The incident has fuelled criticism of Friday’s fight, with many condemning it as a macabre spectacle that poses undue risk for Tyson, who last appeared in a professional ring in 2005, ending in a technical knockout loss after quitting on his stool against Irish journeyman Kevin McBride.

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‘It Shouldn’t Be Happening’

“Mike Tyson retired from boxing 20 years ago and was already worn out,” British promoter Eddie Hearn said this week.

“If anyone thinks Mike Tyson should be in a ring at this age, you either have absolutely no concern for him, or you’re being reckless. This shouldn’t be happening.” Punch

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Court Gives Falanas, January Date To Prove Case Against VDM

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By Kayode Sanni-Arewa

A Lagos High Court has adjourned the defamation suit brought by Femi Falana and his son against social media influencer, Vincent Otse, also known as VeryDarkMan, until January 23, 2025.

The case was brought by human rights activist Femi Falana and his son, Folarin, popularly known as Falz.

VeryDarkMan arrived in court dressed in a red native outfit, accompanied by fans who cheered him on, but the Falanas were not present.

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The case could not proceed as several applications filed by the parties were still not included in the court file. As a result, the court decided to adjourn the hearing until January 23, 2025.

On October 14, Justice Matthias Dawodu ruled on an ex-parte application filed by the Falanas, granting them legal protection from defamation. The judge ordered that VeryDarkMan remove a defamatory video he posted on September 24, 2025, which targeted the senior lawyer and his son. Additionally, the court prohibited VeryDarkMan from posting or sharing any defamatory content about them on his social media accounts until the matter is resolved.

The Falanas had filed separate lawsuits seeking N500 million each in damages, claiming that VeryDarkMan posted a video accusing them of accepting N10 million from Idris Okuneye, also known as Bobrisky, to influence a legal matter.

They argued that VeryDarkMan knew the allegations were false but chose to spread them, causing harm to their reputations. The Falanas further pointed out that the video continues to circulate online, further damaging their reputations.

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In response, VeryDarkMan applied to the court for permission to appeal the ruling.

He argued that refusing his request would be an injustice, as the case involves significant legal questions that require further examination. He stated, “A refusal to grant leave may result in the enforcement of a decision that does not reflect a correct application of the law, leading to outcomes that may be detrimental not only to the parties involved but also to the administration of justice as a whole. The appellate court’s role in clarifying and, where necessary, correcting trial court decisions is vital in maintaining the integrity of the judicial system.”

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READ 8 Facts About New Lakurawa Terror Group in North West

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By Kayode Sanni-Arewa

Lakurawa, a new terror group is now wreaking havoc in northwestern part of the country. It was once dismissed as harmless herders.

Initially seen as seasonal migrants, the Lakurawa group has evolved into a powerful militant force linked to jihadist networks in the Sahel.

With roots stretching back six years, Lakurawa has grown under the radar, exploiting Nigeria’s porous borders and limited government oversight.

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Here’s what you need to know about this escalating threat and the challenges it poses to the region’s security.

From Herders to Terrorists

Originally seen as seasonal herders from Niger, the Lakurawa group quietly entered Sokoto communities in search of pasture, later gaining a reputation as militants with ties to jihadist networks across the Sahel.

Authorities’ Early Misjudgment

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Locals first reported suspicious activities by Lakurawa herders nearly six years ago, but authorities dismissed them as non-violent. However, recent intelligence from Nigeria’s Defense Headquarters reclassifies Lakurawa as a new terror group with connections to extremist networks.

Cross-Border Threats

The Lakurawa exploit Nigeria’s porous borders with countries like Niger, Chad, and Mali, entering remote areas to promote radical ideology, often in Hausa and Fulfulde languages, and impose strict “Islamic” rules on communities.

Unusual Alliances

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Invited by local leaders to fend off other bandits, Lakurawa quickly grew from an auxiliary force into a dominant presence, controlling communities through a mix of militant enforcement and religious influence.

Camp ‘Darul Islam’ in Forests

Lakurawa established camps around Gwangwano, Mulawa, Wassaniya, and Tunigara along the Nigeria-Niger border, naming them Darul Islam, or “Abode of Islam.” Their membership has since swelled to over 200 young men.

Escalation and Armed Attacks

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Once tolerated by local communities, the group’s violent tendencies surfaced through alleged attacks on military bases and confrontations with Nigerian security forces, marking a shift to full-scale militancy.

Radical Ideology and Social Control

The group enforces stringent rules, often forbidding music and dancing, and collects levies disguised as religious Zakat. They pressure locals to obey these laws, maintaining authority over vulnerable communities.

A Growing Regional Concern

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With ties to jihadist groups across the Sahel, Lakurawa’s presence reflects broader security challenges. The breakdown in joint border patrols after Niger’s recent coup has only worsened Nigeria’s exposure to such extremist threats.(PRNigeria)

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