Commission warns that all Point-of-Sale agents must register by year’s end or face closure as security agencies prepare for enforcement.
The Corporate Affairs Commission (CAC) has issued a fresh warning that it will begin a nationwide clampdown on unregistered Point of Sale (POS) operators starting 1 January 2026.
In a statement released on Saturday, the Commission expressed concern over the growing number of POS agents conducting business without fulfilling mandatory registration requirements. According to the CAC, operating without registration contravenes the Companies and Allied Matters Act (CAMA) 2020 as well as the Central Bank of Nigeria’s Agent Banking Regulations.
The agency stressed that all POS businesses must be properly registered before the deadline or risk immediate shutdown. It added that security agencies have been placed on alert and will support full enforcement across the country.
The Commission also accused some fintech companies of enabling the proliferation of unregistered POS terminals, warning that such practices pose risks to the financial system and endanger users’ funds.
“Any POS terminal found unregistered will be confiscated or sealed off by authorised security personnel. Fintech companies aiding these illegal operations will be placed under watch and reported to the Central Bank of Nigeria,” the CAC cautioned.
The Commission urged operators to regularize their status without delay, noting that compliance is compulsory for continued operation.
About the Author
