* As Registrar-General unveils bulk registration centre
More charges await Nigerians as some Point of Sale (PoS) agents in the FCT have frowned at the new directive of the Central Bank of Nigeria (CBN) compelling them to register with the Corporate Affairs Commission (CAC).
The CAC, on Monday, issued a two-month deadline to PoS operators to register their agents, merchants, and individuals with the commission in line with legal requirements and the directives of the Central Bank of Nigeria (CBN).
The agents, who disclosed this in Abuja on Wednesday, said the registration, which would require money, would impact on transaction cost paid by customers.
A PoS agent, Kofi Kolawole, said the registration would deplete the profits in the business.
Kolawole said the registration would also discourage more people from joing the business.
“I know that this registration when actualised by our operators will increase the amount they charge us.
“This means that the cost we charge on each transaction will increase, so our customers will bear the cost,’’ he said.
Another PoS agent, Mr. Clement Agbasi, argued that the directive negates the financial inclusion initiative of the CBN.
Agbasi added that directive would cause many customers to save their cash at home rather than being charged heavily for their online transactions.
“The PoS business was geared towards bringing the banks closer to the unbanked and making it easier for them.
“With all these charges including the 0.5 per cent cyber-security levy on customers, many people will be discouraged from putting their monies in banks,’’ he said.
Miss Loretta Ubong, another PoS agent, said that although the registration is a welcome development, it must be done in a way that would not be detrimental to businesses.
Ubong appealed to the CAC to conduct the registration in line with best practices.
“I am a student and I use the proceed from this business to pay my bills.
“The Commission should not do the registration in a way that will kill my business,’’ she said.
However, Mrs. Ndidiamaka Ibe, a customer said the registration would help to check financial frauds and sharp practices perpetrated with PoS.
“I was a victim of one-chance and my over two million naira was withdrawn from a PoS.
“When I got to my bank, they could not trace the owner of the PoS.
“I think that what the Federal government is trying to do is to check things like this so that when fraud is perpetrated by a PoS agent, he or she can be easily traced,’’ she said.
The CAC had said that the registration is aimed at safeguarding businesses of Fintech’s customers and strengthening the economy.
The Commission gave July 7 as deadline for the registration.
Meanwhile, the CAC has inaugurated a centre for bulk registration of PoS operators in its database.
The CAC Registrar-General, Hussaini Magaji, said this while inaugurating the centre stationed at its Federal Capital Territory Office in Abuja on Wednesday.
According to Magaji, the importance of registering the PoS operators in the commission’s database cannot be over emphasised.
He said the centre is well equipped with all the necessary facilities to operate 24 hours a day and ensure the commission’s achievement of its purpose.
“What we did was accommodate the request from the Fintechs.
“We have allowed them to integrate with the Corporate Affairs Commission; they have developed their structure, and we gave them access.
“Once they supply the necessary details for registration on their platform, the certificate is generally generated and transmitted directly to their platform without them having to contact anyone.
“We have done this to ensure that everyone gets it easy without hitches, but if they choose to apply manually, we have a secretariat open for them to do so,” he stated.
The Registrar-General reiterated that the centre would be opened to all operators in the fintech industry who voluntarily submitted their agents and merchants for regularisation with the CAC.