News
Mobile money operator seeks shift in CAC registration
Mobile money operator seeks shift in CAC registration mobile money and bank agent, Mr Fasasi Atanda, says the deadline for the registration of Point of Sales (PoS) with the Corporate Affairs Commission (CAC) is not realistic.
Atanda made this remark in an interview with the News Agency of Nigeria (NAN) on Tuesday in Lagos.
“Currently the CAC portal is very slow because of traffic.
“It takes up to three to four days for someone to even access the portal for association we engage an agent that is doing the registration,” he said.
According to him, it is possible for everyone to register.
He said business owners needed to be sure they want to register because of the requirements and also some developments that would come aftermath the registration.
NAN reports that Point of sale (PoS) operators had revealed plans to sue the Corporate Affairs Commission (CAC) over mandatory registration requirements.
On May 6, CAC and financial technology (fintechs) companies agreed to a two-month timeline to register their agents, merchants, and individuals with the commission.
CAC said the deadline for registration is set for July 7.
According to the commission, the action is equally backed by Section 863 (1) of the Companies and Allied Matters Act, (CAMA) 2020, as well as the 2013 Central Bank of Nigeria (CBN) guidelines on agent banking. (NAN)
Operatives of the Economic and Financial Crimes Commission (EFCC) have arrested Sirajo Jaja, the Accountant General of Bauchi State for alleged N70 billion fraud.
He was arrested in Abuja on Wednesday, March 19, 2025 alongside Aliyu Abubakar of Jasfad Resources Enterprise, an unlicensed bureau de change (BDC) operator and Sunusi Ibrahim Sambo, a Point of Sale (PoS) operator.
They were arrested in connection with investigations of money laundering, diversion of public funds and missapropriation to the tune of N70 billion.
The Commission is investigating the Governor of Bauchi State, Bala Mohammed, regarding the matter.
The EFCC said investigations showed that cash withdrawal of N59billion had been made through various bank accounts opened and operated by the Accountant General on behalf of the state government.
The money was allegedly moved to Abubakar and Sambo, who in turn made cash payments to party agents and associates of the governor.
The BDC operator, Abubakar, earlier jumped bail and has now been rearrested.
Some constituents in Kogi central have reportedly initiated a recall process against Natasha Akpoti-Uduaghan, the senator representing the senatorial district in the national assembly.
Several videos posted on social media on Wednesday show the constituents lining up to sign their signatures as part of the process.
A source in Kogi, who would not want to be named in the media, confirmed to TheCable that the recall process is ongoing.
The source added that the constituents mobilised heavily to recall the female lawmaker.
Akpoti-Uduaghan had accused Senate President Godswill Akpabio of sexually harassing her.
She was suspended from the senate on March 6 for “gross misconduct” following her seating arrangement altercation with Akpabio.
The process of recalling a senator is outlined in section 69 of the 1999 Constitution (as amended).
The process involves the electorate in the senator’s constituency, the Independent National Electoral Commission (INEC), and a referendum.
The recall process is expected to take two days across all polling units in the five LGAs of the Kogi central senatorial district.
During the exercise, constituents will be required to sign a petition to the INEC, calling for the senator’s recall.
The INEC, upon receipt of the petition, will thereafter verify the signatures of each constituent to determine whether they are truly registered voters in the senatorial district or not before proceeding with the exercise.
A catastrophic accident rocked the Karu Bridge near Nyanya, Abuja, after a fully loaded fuel tanker suffered brake failure, ramming into several vehicles and igniting a massive inferno.
Witnesses report that the impact was immediate, as flames engulfed the crash site, triggering multiple explosions that sent debris flying across the area.
According to early reports, the tanker was carrying compressed natural gas (CNG) cylinders in addition to liquid fuel.
Several powerful explosions were recorded, with fireballs and shrapnel soaring as high as 700 meters into the sky. Some projectiles were reportedly flung up to 900 meters from the crash site, resembling the devastating force seen in previous industrial disasters.
Eyewitnesses described scenes of horror as people scrambled for safety. Several vehicles were instantly consumed by the fire, trapping occupants inside.
Emergency responders, including fire service personnel and medical teams, rushed to the scene to contain the blaze and assist victims.
“I saw the tanker coming at high speed, swerving dangerously before it crashed. Within seconds, there was an explosion, and fire spread everywhere,” said a survivor who managed to escape from a nearby vehicle.
While the full extent of casualties remains unclear, officials fear significant loss of life due to the intensity of the explosions. Authorities have yet to confirm the number of victims, but multiple injuries and fatalities are expected. The inferno also caused heavy damage to nearby structures and vehicles.