- The commission also noted that it had granted APIs and created a special registration portal to Fintechs
The Corporate Affairs Commission (CAC) has stated that it processes at least 15,000 applications per day, including weekends, for its fintech regularisation programme.
Over the weekend, the CAC issued a public notice on ease of doing business, dismissing media reports about its services’ availability for name searches.
In response to questions about fintech and agent banking, the commission stated that its approving officers considered each application on its own merit.
It stated, “The general public may recall that in accordance 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 began 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.
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