STATEMENT ON PRESIDENT TINUBU'S RETURN TO NIGERIA. (PHOTO). #PRESS RELEASE.

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 STATEHOUSE PRESS RELEASE STATEMENT ON PRESIDENT TINUBU'S RETURN TO NIGERIA President Bola Ahmed Tinubu remains fully engaged in Nigeria's governance even though he is away in Europe. His absence remains temporary and in line with the communicated timeframe of approximately two weeks.   The President left Paris for London at the weekend and has maintained constant communication with key government officials, overseeing critical national matters, including directives to security chiefs to address emerging threats in some parts of the country.  His return to Abuja and the resumption of duties at Aso Villa will follow the conclusion of the Easter holiday.   The President’s commitment to his duties remains unwavering, and his administration continues to function effectively under his leadership.  We appreciate the public’s concern and assure all Nigerians that governance proceeds without interruption.   Bayo Onanuga Special Adviser to the Preside...
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CAC REVEALS ONLY 100,000 POS OPERATORS HAVE REGISTERED. (PHOTO).

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The Registrar General of the Corporate Affairs Commission, Hussaini Ishaq Magaji has revealed that only 100,000 Point of Sale (POS) operators have officially registered their businesses with the commission as part of its POS formalization project.


Magaji said this during the in-house enforcement and compliance training for state offices on Monday in Abuja,


Magaji said that the training,  with the themed “Re-engineering the Commission for Compliance and Enforcement Mandates” would ensure efficient management of corporate entities.


He called for a paradigm shift in the commission’s operations, emphasising the importance of compliance and enforcement functions beyond the routine registration of businesses.


The registrar-general said that advancements in Artificial Intelligence (AI) could handle routine operational tasks like business registration, freeing resources for more complex compliance and enforcement activities.


He reiterated the success of the PoS Formalisation Project, which had registered about 100,000 Point-of-Sale operators under the requirements of Section 863 of the Companies and Allied Matters Act (CAMA) 2020.


According to him, the project aims to formalise at least 250,000 operators in the sector as part of broader efforts to regulate the estimated 40 million micro, small, and medium enterprises (MSMEs) in Nigeria.


He revealed plans to implement sanctions for operators who fail to comply with formalisation requirements and clarified that multiple registrations across fintech platforms were unnecessary, as one registration sufficed.

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