The Corporate Affairs Commission has announced the approval to extend the mandatory Point of Sales agents, super agents and sole agents registration to September 5th, 2024.

The commission made the announcement in a statement signed by its management and posted on its Facebook page on Saturday, giving a 60-day extension.

It said the extension is to give sufficient time to operators particularly those in remote areas who might have encountered network challenges to so register and continue with their businesses.

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The statement read, “The Corporate Affairs Commission wishes to notify Fintech Operators also known as Point of Sales Operators that the initial deadline of 7th July 2024 given for the registration of sole Agents, Super Agents and Agents has been extended for sixty days beginning from 7th July 2024 to the 5th September 2024.

“This is to give sufficient time to Operators particularly those in remote areas who might have encountered network challenges to so register and continue with their businesses.”

It added operators who continue to disobey after the new deadline will risk losing their businesses and facing prosecution for assisting criminal activities.

“Operators who fail or refuse to register at the end of the extended deadline run the risk of losing such businesses and prosecution for aiding and abetting criminal activities,” it said.

Nigeria’s foreign exchange reserves have reached a high of $34.7bn, according to data obtained from the Central Bank of Nigeria’s website by The PUNCH on Sunday.

This represents an increase of $110m from the previous day’s figure of $34.5bn.

The reserves have been steadily increasing over the past week, with a total gain of $316m since July 1..

This growth has been attributed to several factors, including the recent increase in oil prices, improved diaspora remittances, and the Central Bank’s efforts to stabilise the currency.

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Experts believe that the increase in foreign exchange reserves is a positive development for Nigeria’s economy, as it provides a cushion against external shocks and supports the country’s ability to meet its financial obligations.

A recent Fitch Ratings has placed Nigeria’s economic outlook to positive, citing significant reforms that have restored macroeconomic stability and enhanced policy coherence and credibility.

Fitch said, “The positive outlook partly reflects reforms over the last year, which have reduced distortions stemming from previous unconventional monetary and exchange rate policies.”

The Central Bank has implemented various measures to manage the foreign exchange market, including the introduction of the Investors’ and Exporters’ window, which has helped to attract foreign investment and boost reserves.

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The reforms have led to a return of sizeable inflows to the official foreign exchange market and a significant rise in foreign portfolio investment inflows.

However, Fitch noted that short-term challenges remain, including high inflation and FX market volatility. Despite this, the agency expects further monetary policy tightening and strengthening of monetary policy transmission.

“The reforms have contributed to the restoration of macroeconomic stability and enhanced policy coherence and credibility.

“However, we see significant short-term challenges, notably high inflation, and the FX market has yet to stabilize, and the durability of the commitment to reform is to be tested,” Fitch stated.

Anjola Femi, a Nigerian man, has returned $14,000 (approximately N21 million) that was mistakenly sent to him by a foreign crypto trader.

The incident, which unfolded on social media, has garnered widespread attention and praise.

The story began when Femi participated in a cryptocurrency giveaway organized by Rafael Alvi, a foreign trader known on social media as @raffayalvi.

Femi was initially awarded $100 worth of Solana, a popular cryptocurrency.

However, due to an error, Alvi accidentally transferred $14,000 to Femi’s account instead.

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Upon discovering the mistake, Femi made the decision to return the substantial sum.

His act of integrity did not go unnoticed, as Alvi publicly praised Femi on social media for his honesty.

The incident has since attracted significant attention, with many applauding Femi for his commendable actions.

When asked about his decision to return the money, Femi explained that honesty and integrity are values he holds dear.

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He expressed that keeping the money would have been wrong and that he believes in doing the right thing, regardless of the circumstances.

“My name is Anjola Femi, the guy that is known as Lucky, that is the Twitter handle @muchino67.

“So I won this giveaway on Solana, $100 worth of Solana from Rafael Alvi this morning. So, what happened was that he sent it to me.

“So, when he sent it to me, he now messaged me that he mistakenly sent 100 Solana which was $14k instead of $100. So, he requested me to hold 10 and send 90 to him in which I did…,” Femi narrated.

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When asked why he returned the substantial sum of money, Femi said; “I cannot keep the money because it is not mine. I am child of God and we all know that righteousness exalts a nation and thank God for Apostle Chris Onofua, the Kingdom Spread World Ministry general overseer. He has taught us the way of righteousness, so I am very very happy about what I did.

“He is happy, I am happy. I am just trying to show to the world that we Nigerians we are still great and also have a lot of people with integrity. I am also a graduate of the Federal University of Technology, Minna, 2017 set, chemical engineering to be precise.

“Thank you and God bless you all.”