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The Corporate Affairs Commission (CAC) has announced a regulatory move to sanitise Nigeria’s rapidly expanding Point of Sale (PoS) industry, declaring January 1, 2026 as the enforcement date for mandatory registration of all PoS operators nationwide.
In a public notice signed by the Commission’s management, the CAC expressed concern over the rising number of unregistered PoS operators conducting business in violation of the Companies and Allied Matters Act (CAMA) 2020 and the Central Bank of Nigeria (CBN) Agent Banking Regulations.
According to the Commission, the proliferation of unregistered operators often enabled by some fintech companies poses significant risks to Nigeria’s financial system and exposes citizens to fraud and investment losses.
Effective January 1, 2026, no PoS operator will be permitted to run without proper CAC registration. Security agencies have been directed to enforce nationwide compliance, including: Seizure or shutdown of unregistered PoS terminals, monitoring and enforcement actions against non-compliant agents and watchlisting of fintechs enabling illegal PoS operations, with reports forwarded to the CBN.
“This reckless practice often enabled by some EFFECTIVEfintech companies puts Nigeria’s financial system and citizens’ investments at risk. This must stop.
“1 JANUARY 2026, 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 by Security Officials.
“Fintechs enabling illegal operations will be placed on watchlist and reported to the CBN. All operators are advised to regularize immediately. Compliance is mandatory,” the notice stated
The Commission emphasised that compliance is mandatory and urged all operators, sole agents, super agents, and aggregators to regularise their businesses immediately.
In July 2024, the CAC extended the initial registration deadline for PoS operators from July 7 to September 5, following the expiration of a 60-day window earlier announced for business registration.
By September 2024, the Commission reiterated its warning after many operators failed to comply, stressing that formal registration was necessary to strengthen accountability, curb fraud, and enhance consumer protection in the agent banking sector.
The CAC assured the public that the clampdown is part of broader efforts to safeguard the integrity of Nigeria’s financial ecosystem and protect millions of citizens who rely on PoS services for daily transactions.
