The Corporate Affairs Commission has issued a stern warning to Point-of-Sale operators across Nigeria, announcing a nationwide enforcement campaign against unregistered operators.
In a statement shared on its Instagram page on Saturday, the CAC said it has observed a growing number of PoS operators running businesses without proper registration, a move it described as illegal and risky.
The commission noted that this trend violates both the Companies and Allied Matters Act 2020 and the Central Bank of Nigeria’s Agent Banking Regulations. It also accused some fintech companies of facilitating the rise of unregistered agents, calling it reckless and a threat to the country’s financial system. The CAC warned that such practices expose millions of Nigerians, including small business owners and rural communities, to financial and investment risks.
The commission emphasized that starting 1 January 2026, no PoS operator will be allowed to conduct business without full CAC registration. Security agencies will enforce compliance nationwide, and unregistered terminals will be seized or shut down. Fintech firms supporting illegal operations will be monitored and reported to the Central Bank of Nigeria.
“Effective 1 January 2026, no PoS operator will be allowed to operate without CAC registration. All operators are advised to regularise immediately. Compliance is mandatory,” the statement read in part.
The warning aligns with concerns raised by Olufemi Bamisile, Chairman of the House ad hoc committee on Economic, Regulatory, and Security Implications of Cryptocurrency Adoption and PoS Operations. He highlighted reports of unprofiled agents, cloned terminals, anonymous transactions, and weak Know-Your-Customer practices, warning that these lapses put Nigerians at serious risk of financial loss, cybercrime, and security breaches.
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