The Right Nature of Business for POS in CAC Registration

AMENDMENT FOR NATURE OF BUSINESS AND BUSINESS ADDRESS
THE RIGHT NATURE OF BUSINESS FOR POS IN CAC REGISTRATION
The Corporate Affairs Commission on has directed all PoS agent and operators in the country to register their businesses and the deadline for registration has been set at September 5, 2024.
This POS business registration with CAC is robustly supported by major fintechs who are major players in the POS business. At the meeting where the decision to mandate all POS business operators to register as a business with CAC was signed, representatives of Moniepoint, Opay, Palmpay, Fairmoney , etc were all present.
One of the rationale that has brought about the need for POS business regular with CAC is tackling the high rate of POS fraud in the country. Failure to adhere to the directive of POS business registration with CAC after deadline may get the offender arrested by the police.
According to them, the directive is targeted at safeguarding businesses and is backed up by law, Section 863, Subsection 1 of the Companies and Allied Matters Act, CAMA 2020, and the 2013 CBN guidelines on agent banking.
To even ensure a smooth exercise and to show seriousness, the corporate affairs commission have even set up registration centers in Abuja for bulk registering.
To do the POS business registration cost some money but it costs more when you contract the services of an Accredited agent. But to reduce cost significantly, you can do CAC POS business name registration by yourself without an Accredited Agent.
This video brings you step by step processes by which you can do your POS business registration with CAC by yourself. Remember to SUBSCRIBE AND SHARE the video.👇👇
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[@kaluanyim1453]

Do you have any video on annual returns both biz name and LLC? I like your videos

[@edjekotachristian120]

@@kaluanyim1453 It's concern that came up to mind recently and I'm working on it.🙏

[@kaluanyim1453]

Thanks for the update. I knew from the POS video you chose nature of biz that relates to financial services that it must be queried. Why did you not include a few other descriptions at least for future purposes or if it's not only POS the biz is for?

[@edjekotachristian120]

@@kaluanyim1453 thanks for your thoughts. It's basically the same process. One just needs to choose the options that best suits their nature of businesses.

[@godswealthacademy1322]

Was it approved when you used specific that nature of business. I mean administrative and support activities and General Marchadise?