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AMMBAN Explain: POS Users Don’t Need CAC Registration As Deadline Ends
The Association of Mobile Money & Bank Agents in Nigeria has explained that its members do not need Corporate Affairs Commission registration to operate in the country.
The General Secretary of the Association, Elegede Segun, in an interview with DAILY POST, noted that operators of Point of Sales terminals can function as non-entities.
He refuted claims that there are illegal POS operators, saying that existing Call Terminal Identification with Nigeria Inter-Bank Settlement System Plc, Bank Account, Bank Verification Number, and National Identity Number are enough security for POS operators in Nigeria.
“But what is baffling is the issue with the CAC, and we are waiting for them to give us clarity. Let’s know, why would you enforce registration of businesses on POS operators?
“Is it the same with other businesses? For people who sell wood, for people who grind paper, must they register before they can function as a business in Nigeria? Because CAMA(Company and Allied Matter Act 2020) clearly states that you can exist either as an individual or as a non-entity.
“So, you cannot force anyone. You can still do business with your own partner in Nigeria. That is what the Nigerian law has stipulated.
“That’s not me. So, why is CAC saying that everybody doing POS must be registered? Don’t forget, I heard someone say, or maybe one or two people from the CAC said, that there are illegal POS operators. There’s nothing like illegal POS operators out there.
“Because a POS operator is not like a phone that you buy anywhere. Before a POS operator can be functional in Nigeria today, they must have gotten what we call a terminal ID from NIBSS”, he told DAILY POST.
His comments come as CAC in December set January 2026 as the deadline to clamp down on unregistered POS operators in Nigeria.
CAC further warned to sanction fintech companies enabling unregistered POS operators.
The Confederation of African Football (CAF) has announced Morocco as winners of the 2025 Africa Cup of Nations.
The CAF Appeal Board ruled in favour of Morocco, declaring that Senegal forfeited the AFCON final by walking off the field during the game.
Morocco were awarded a 3–0 walkover victory.
This decision upholds Morocco’s appeal following the chaotic events in the match.
DAILY POST recalls that the Senegal team briefly walked off the pitch in protest after a controversial penalty was awarded to Morocco late in regulation time.
They were called back to the field by their captain, Sadio Mané, and later won the game 1–0.
CAF determined that this action constituted a violation of Article 84, or the equivalent regulations concerning refusal to play or abandoning the field.
Under AFCON rules, a team that refuses to continue playing or leaves the field without authorization faces elimination and forfeiture of the match.
A total of three operatives of different security agencies in Anambra State collapsed during the inauguration of Anambra State Governor, Prof Chukwuma Soludo, on Tuesday.
The incident happened during the parade at the Dr Alex Ekwueme Square in Awka.
The three operatives are one male police operative, another male operative of the Directorate of State Services (DSS) and a female operative of the Nigeria Security and Civil Defence Corps, NSCDC.
The police operative collapsed first, followed by the NSCDC operative, who slumped towards the end of the event and was later escorted to an ambulance, after she refused to be moved in a stretcher.
A source said the police operative was later resuscitated, but was still not stable, and was taken in an ambulance to Chukwuemeka Odumegwu Ojukwu University Teaching Hospital, Amaku Awka.
The collapse of the service officers was attributed to fatigue and the long period of parade under harsh sunny weather.
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