…..Slams Nigerian Govt Over Registration Requirement.
Favor Okorie.
Operators of Some Points of Sale in Lagos have faulted the new directive of the Corporate Affairs Commission, CAC, for them to register with the Commission as the operators has vowed to increase service charges following the development.
Investigator News gathered that the CAC has already issued a two-month registration deadline on Monday for PoS operators to register their businesses per the legal requirements of the Central Bank of Nigeria, CBN.
Reacting to the directive, PoS Operators, in an interview with lnvestigator News on Wednesday, said the registration, which would require money, would impact customer transaction costs and eventual service charge increase.
Mrs Ajibade,aPoS agent, said the registration would deplete the business’s profits as registration would also discourage individuals from entering into 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,” she said.
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Mr Clement Okoro said the directive negated the CBN’s financial inclusion initiative, noting that the directive would cause many customers to save their cash at home rather than being charged heavily for online transactions.
According to him,“The PoS business was geared toward 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 money in banks,” he said.
