By the Editor
As the deadline set for the regularisation of fintech companies in Nigeria inches closer, the Registrar-General of the Corporate Affairs Commission, Hussaini Ishaq Magaji, SAN, has disclosed that the commission is now processing 15,000 applications daily, weekend inclusive.
Magaji made the disclosure in a press statement he released to the public recently to counter what he called, “the false and misleading information contained in some social media posts about the Commission’s services with particular reference to name search or availability”.
It would be recalled that given the rapid increase in the number of POS machines and their ubiquitous deployment across Nigeria with an attendant rise in PoS-related fraud, Nigeria’s apex bank, the Central Bank of Nigeria, CBN some two months back, directed all fintec companies to register all their PoS operators with the Corporate Affairs Commission (CAC) by July 7, 2024.
The surge in the number of applications has mad the CAC to launch the Special Registration Portal (SRP) as well as granting fintechs APIs to the Special Registration Portal, SRP so they can register their agents and merchants on the platform directly.
The Registrar-General assures Nigerians of his agency’s commitment to providing prompt and efficient services; urging the public to “disregard any malicious and unfounded allegations by some individuals bent on desecrating the commission’s reputation”.
He also tasked them not to hesitate to report any of its staff trying not compromise its processes and procedures for appropriate disciplinary action.
