By Adenike Lawal
The Corporate Affairs Commission (CAC), says it will begin a nationwide clampdown on all unregistered point-of-sale (POS), operators from January 1, 2026, warning that non-compliant terminals will be seized or shut down.
In a statement issued on Saturday, the Commission described the rising number of unregistered POS businesses as a violation of the Companies and Allied Matters Act (CAMA), 2020 and the Central Bank of Nigeria’s agent banking guidelines.
It also disclosed that fintech companies suspected of enabling unlicensed POS activities have been placed under close surveillance.
“The Commission has observed the growing number of POS operators functioning without proper registration.
“This reckless practice poses risks to Nigeria’s financial system and threatens citizens’ investments. It must stop,” the statement said.
The CAC reiterated that registration is compulsory and directed all operators to regularise their status immediately.
It added that security agencies will enforce compliance nationwide, while fintechs aiding unlawful operations will be placed on a regulatory watchlist and reported to the CBN.
According to the Commission, the new regime effective January 1 will prohibit unregistered POS operations, enforce nationwide compliance, and sanction any operator or financial technology firm found violating the rules.
