CAC Issues Nationwide Clampdown on Unregistered PoS Operators
The Corporate Affairs Commission (CAC) has issued a strong warning to Point-of-Sale (PoS) operators nationwide, announcing a sweeping enforcement campaign against businesses operating without proper registration. The move targets unlicensed operators and seeks to safeguard Nigeria’s financial system.
According to a statement released on CAC’s official Instagram page on Saturday, the Commission observed a rise in unregistered PoS operators, which constitutes a clear breach of the Companies and Allied Matters Act (CAMA) 2020 and the Central Bank of Nigeria’s Agent Banking Regulations. The agency noted that such operations pose financial risks to millions of Nigerians, including small business owners and rural communities.
The Commission also highlighted the role of some fintech companies in facilitating these illegal practices by onboarding unregistered agents, describing the trend as reckless and potentially harmful to Nigeria’s banking and financial ecosystem.
Starting 1 January 2026, CAC declared that no PoS operator will be allowed to conduct business without completing full registration with the Commission. Security agencies will enforce compliance, seizing unregistered terminals and shutting down illegal operations. Fintechs enabling unregistered operations will be reported to the Central Bank of Nigeria (CBN) and added to a regulatory watchlist. Operators are urged to regularize their registration immediately to avoid penalties.
The directive aligns with warnings from the House of Representatives ad hoc committee on the Economic, Regulatory, and Security Implications of Cryptocurrency Adoption and PoS Operations. Committee Chairman Olufemi Bamisile highlighted reports of cloned terminals, anonymous transactions, unprofiled agents, and weak Know-Your-Customer (KYC) practices that put Nigerians at risk of financial loss and cybercrime.
The CAC’s clampdown emphasizes its commitment to ensuring regulatory compliance, protecting consumers, and maintaining trust in Nigeria’s digital financial infrastructure. Stakeholders are advised to adhere to the new regulations and complete registration before the January 2026 deadline.
