NIGERIA: CAC Announces Nationwide Clampdown on Unregistered PoS Operators Beginning Jan 1

By Ameenat Hamzat, Lagos, Nigeria 

The Corporate Affairs Commission (CAC) has announced that it will begin a nationwide enforcement action against all Point of Sale (PoS) operators running without proper registration. The clampdown, which takes effect from January 1, 2026, aims to halt the growing number of illegal PoS businesses across the country.

In a public notice signed by the Commission on December 6, 2025, the CAC expressed concern over the rising number of PoS agents operating without fulfilling mandatory registration requirements.

The Commission said the trend violates the Companies and Allied Matters Act (CAMA) 2020 as well as regulations guiding Agent Banking operations under the Central Bank of Nigeria (CBN).

The statement reads: “The CAC has observed the rising number of PoS operators running without registration, violating CAMA 2020 and CBN Agent Banking Regulations.

This reckless practice often enabled by some fintech companies puts Nigeria’s financial system and citizens’ investments at risk. This must stop.

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The notice further stated that, the activities of unregistered operators, often backed by certain fintech companies, pose significant risks to Nigeria’s financial system and the investments of citizens. The Commission described the situation as “reckless” and stressed that it must come to an end.

From January 1, 2026, the notice emphasized that no PoS operator will be permitted to operate without CAC registration. The Commission stated that security agencies have been mandated to enforce compliance nationwide. It added that any PoS terminal found to be unregistered will be seized or shut down by security officials.

Fintech companies aiding or enabling illegal PoS operations will also face sanctions. Such firms will be placed on a watchlist and reported to the Central Bank of Nigeria, the notice warned.

The CAC advised all PoS operators across the country to regularize their business status immediately, stressing that compliance is mandatory.