The Governor of Lagos State, Babajide Sanwo-Olu, has called on the Corporate Affairs Commission (CAC) to streamline its registration procedures, particularly for startups and small businesses facing challenges with registration fees.<\/p>\n
Sanwo-Olu made this appeal on Thursday during a visit by the Registrar-General of CAC, Mr. Hussaini Magaji, to Alausa, Ikeja. Represented by his Deputy, Dr. Obafemi Hamzat, the Governor suggested adopting a model akin to the state tax card, aimed at managing infrastructure needs without burdening businesses.<\/p>\n
The appeal coincides with the ongoing struggle of Point of Sales (POS) operators to meet the July 7, 2024 registration deadline set by the CAC. Sanwo-Olu emphasized the importance of sensitization to dispel the perception that CAC registration is cumbersome and advocated for collaboration between the state government and CAC to facilitate seamless business registration in Lagos.<\/p>\n
In response, the Registrar-General reaffirmed the CAC’s commitment to enforcing compliance in the fintech industry, ensuring all POS operators are duly registered. He highlighted that registration can be done from anywhere in Nigeria and expressed readiness to collaborate with state governments to offer business registration at subsidized rates, supporting micro, small, and medium enterprises.<\/p>\n
However, the mandatory registration directive has faced criticism from the Association of Mobile Money and Bank Agents in Nigeria (AMMBAN). The group denounced the directive, arguing it was unnecessary and could burden Nigerians with additional taxes. They disputed the CAC’s assertion that registration would curb crimes associated with POS transactions, citing the complex nature of such crimes.<\/p>\n
Earlier in May, the CAC had announced the July 7 deadline for POS agents of major fintech companies in Nigeria to register their businesses. Hussaini Magaji, the Registrar-General, had clarified that the deadline was agreed upon following consultations with POS operators in Abuja.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Governor of Lagos State, Babajide Sanwo-Olu, has called on the Corporate Affairs Commission (CAC) to streamline its registration procedures, particularly for startups and small businesses facing challenges with registration fees. Sanwo-Olu made this appeal on Thursday during a visit by the Registrar-General of CAC, Mr. Hussaini Magaji, to Alausa, Ikeja. Represented by his Deputy, […]<\/p>\n","protected":false},"author":27,"featured_media":37723,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[172],"tags":[],"class_list":["post-37721","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/37721","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/27"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=37721"}],"version-history":[{"count":3,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/37721\/revisions"}],"predecessor-version":[{"id":37726,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/37721\/revisions\/37726"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/37723"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=37721"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=37721"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=37721"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}