The Corporate Affairs Commission (CAC) has announced that all Point of Sale (PoS) operators in Nigeria must register with the commission by January 1, 2026, or face a nationwide clampdown.
The directive, issued over the weekend, is part of efforts to sanitise the fast-growing PoS industry.
According to the CAC, many operators currently function without proper registration, violating the Companies and Allied Matters Act (CAMA) 2020 and the Central Bank of Nigeria’s Agent Banking Regulations.
The commission warned that the proliferation of unregistered PoS agents—often aided by some fintech companies—poses serious risks to the financial system.
The agency noted that illegal operations have created avenues for fraud, financial losses and untraceable transactions, threatening consumer protection and national financial stability.
It stressed that all operators, including sole agents, super agents and aggregators, must regularise their business status immediately.
To enforce compliance, the CAC said security agencies have been directed to begin nationwide monitoring from January 1, 2026.
Their mandate includes seizing or shutting down unregistered PoS terminals and sanctioning fintech firms that enable unlicensed operations.
The commission reaffirmed that registration is mandatory for every PoS business and warned that defaulters will face strict enforcement actions.
It appealed to operators to comply early to avoid disruption of their services and possible legal consequences.