We’re treating over 15,000 Fintech applications – CAC
The Corporate Affairs Commission (CAC) has stated that it is treating not less than 15,000 applications daily, including on weekends, for its fintech regularisation programme. The CAC stated in a public notice over the weekend on ease of doing business, where it dismissed media reports about its services with respect to name search availability. Addressing […]
The Corporate Affairs Commission (CAC)
The Corporate Affairs Commission (CAC) has stated that it is treating not less than 15,000 applications daily, including on weekends, for its fintech regularisation programme.
The CAC stated in a public notice over the weekend on ease of doing business, where it dismissed media reports about its services with respect to name search availability.
Addressing issues on fintech and agent banking, the commission stated that its approving officers were treating each application based on its merit.
It stated, “The general public may recall that in line with the provisions of section 863(1) of the Companies and Allied Matters, CAMA 2020, and the CBN guidelines for agent banking, 2013, the commission commenced the regularisation of all Fintechs in the country.
“In view of the set deadline for the regularisation of the Fintechs, the commission is unprecedentedly treating not less than 15,000 applications per day (weekends inclusive), and its hardworking approving officers are working assiduously to treat applications based on their merits.”
The commission also noted that it had granted APIs and created a special registration portal to Fintechs for them to register their agents, merchants, and other individuals using their platforms.