The Corporate Affairs Commission (CAC) has issued a firm warning to Point-of-Sale (PoS) operators across Nigeria, announcing plans to clamp down on businesses running without proper registration.
In an announcement posted on its official Instagram page on Saturday, the Commission expressed concern over the rising number of PoS agents operating outside the legal framework. It described the trend as a direct breach of the Companies and Allied Matters Act (CAMA) 2020 as well as the Central Bank of Nigeria’s Agent Banking Regulations.
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The CAC noted that some fintech firms have been onboarding unregistered PoS agents, a move it labelled irresponsible and detrimental to the country’s financial integrity. According to the Commission, this practice exposes millions of Nigerians—especially small traders and residents of underserved communities—to financial risks and potential fraud.
Mandatory Registration Begins January 1, 2026
To restore order in the sector, the CAC announced a strict enforcement date: January 1, 2026.
From that date, no PoS terminal will be allowed to operate within Nigeria without proper CAC registration. The Commission said security agencies have been authorized to execute the nationwide enforcement exercise.
“Effective 1 January 2026, no PoS operator will be allowed to operate without CAC registration. Security agencies will enforce nationwide compliance, and unregistered PoS terminals will be seized or shut down,” the statement read.
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The Commission also cautioned fintech companies enabling unregistered PoS operators that they risk being placed on a regulatory watchlist and reported to the CBN.
Operators Urged to Regularize Their Status
The CAC stressed that every PoS operator must begin the registration process immediately, reiterating that adherence is compulsory and non-negotiable.
The Commission emphasized that the forthcoming crackdown is designed to strengthen Nigeria’s financial system, ensure consumer protection, and reduce the risks associated with unregulated agent banking activities.
