The Corporate Affairs Commission (CAC) has announced that all Point of Sale (PoS) operators in Nigeria must be registered by January 1, 2026, as part of a regulatory drive to formalise the rapidly growing industry. In a public notice, the CAC highlighted concerns over the increasing number of unregistered PoS operators violating the Companies and Allied Matters Act (CAMA) 2020 and the Central Bank of Nigeria (CBN) Agent Banking Regulations. The commission warned that unregistered operators, sometimes supported by fintech companies, pose significant risks to the financial system and expose citizens to fraud and investment losses.
From January 1, 2026, unregistered PoS operators will be shut down or seized by security agencies. Fintech companies facilitating illegal operations will be placed on a watchlist and reported to the CBN. The CAC urged all operators, agents, super agents, and aggregators to regularise their businesses immediately, stressing that compliance is mandatory.
This move follows earlier deadlines in 2024, when the CAC extended registration periods after many operators failed to comply. The clampdown is part of wider efforts to enhance accountability, curb fraud, and protect consumers relying on PoS services for daily transactions.
Source: https://www.google.com/amp/s/businessday.ng/
