CAC, in an earlier statement, stressed that the registration was to curb crime in the financial space and warned that police would be involved in arrests.
However, AMMBAN, in a statement made available to TimesNow.com.ng noted that CAC’s registration agenda is driven by revenue, not security, as claimed.
Oluwasegun Elegbede, the group’s national general secretary who signed the statement on behalf of Fasasi Sarafsdeen Atanda, the association’s president, stressed that the registration was purely a revenue-driven agenda.
He noted that while fighting crime is noble and very important, the demand for POS agents to register is major due to further taxing hapless Nigerians.
Part of the statement reads:
The association referred to Section 18 (1) of CAMA, which states that ‘A person may apply to the commission for the registration of a company’, and Section 22(1) states that ‘A company shall be deemed to be a separate legal entity from its members’.
The group insisted that this means that individuals and non-individuals (companies) have different legal statuses and requirements. Leadership reports.
The group added:
Punch reports that the association also challenged the Economic and Financial Crimes Commission (EFCC) to provide evidence that its Point-of-Sale agents conspired with bank officials to hoard cash.
TimesNow.com.ng earlier reported that the Economic and Financial Crimes Commission (EFCC) has accused banks of working with point-of-sale (POS) operators to limit cash availability at automated teller machines (ATMs).
Hauwa Garba Ringim, the Acting Zonal Director of the Ibadan Zonal Command of the EFCC, ACE, disclosed this while meeting with bank Compliance Officers in Oyo State.
According to Ringim, it is illegal for POS operators to possess large amounts of cash from banks at the expense of ATMs.
Source: TimesNow.com.ng
