The Corporate Affairs Commission (CAC) has announced a nationwide clampdown on all Point of Sale (PoS) operators running without proper registration, warning that full enforcement will begin on January 1, 2026.
In a public notice issued on Thursday, the Commission expressed concern over the “rising number of unregistered PoS operators” across the country — a practice it says violates provisions of the Companies and Allied Matters Act (CAMA) 2020 and the Central Bank of Nigeria (CBN) Agent Banking Regulations.
According to the CAC, the illegal operations — often aided by some fintech companies — pose a major threat to Nigeria’s financial system, consumer safety, and investment security.
Key Directives Issued by the CAC
Beginning January 1, 2026, the following will apply:
No PoS operator will be allowed to operate without CAC registration.
Security agencies will enforce nationwide compliance.
Unregistered PoS terminals will be seized or shut down.
Fintech companies enabling unregistered operators will be placed on a regulatory watchlist and reported to the CBN.
The Commission advised all PoS agents and business owners to immediately regularize their operations to avoid sanctions.
The notice emphasized that the era of unregulated PoS services is over, stressing that mandatory compliance is part of ongoing efforts to curb fraud, strengthen financial transparency, and protect consumers.
Why This Matters
The PoS sector has expanded rapidly across Nigeria, becoming a major driver of financial inclusion. However, regulators have flagged concerns over fraud, money laundering, and untraceable operators exploiting regulatory loopholes.
With the new directive, analysts say the Government aims to sanitize the booming sector and tighten accountability within the financial ecosystem.
Official Statement:
𝗙𝗼𝗹𝗹𝗼𝘄 𝗢𝘂𝗿 𝗪𝗵𝗮𝘁𝘀𝗔𝗽𝗽 𝗖𝗵𝗮𝗻𝗻𝗲𝗹 𝗧𝗼 𝗚𝗲𝘁 𝗟𝗮𝘁𝗲𝘀𝘁 𝗡𝗲𝘄𝘀 𝗔𝘀 𝗜𝘁'𝘀 𝗗𝗿𝗼𝗽!
