The Corporate Affairs Commission (CAC) has announced a nationwide enforcement operation targeting unregistered Point-of-Sale (PoS) agents, warning that all operators must regularise their businesses before January 1, 2026 or face sanctions.

 

The directive, contained in an official statement signed by the Commission’s management, comes amid growing concerns over the rising number of PoS operators conducting financial transactions without proper registration. The Commission described the trend as a violation of the Companies and Allied Matters Act (CAMA) 2020 as well as the Central Bank of Nigeria (CBN) Agent Banking Regulations.

 

According to the CAC, many of these unregistered operators have been enabled by some fintech companies, a situation the agency condemned as “reckless” and harmful to the country’s financial structure. It warned that such practices expose Nigerians to cyber fraud, money laundering risks, and loss of funds due to the lack of enforceable accountability mechanisms.

 

Beginning January 1, 2026, the Commission said no PoS operator will be allowed to operate without being duly registered. It further disclosed that it had already directed law enforcement agencies nationwide to ensure strict compliance.

 

“Unregistered PoS terminals will be seized or shut down by security officials. Fintechs enabling illegal operations will be placed on a watchlist and reported to the CBN,”

the statement noted.

 

The Commission urged all operators—whether individuals, small businesses, or fintech partners—to commence the regularisation process immediately, stressing that compliance is mandatory.

 

The CAC explained that the enforcement drive is part of broader efforts to sanitise the financial services sector, strengthen regulatory oversight, and protect investors as well as end users who rely heavily on PoS services for everyday transactions.

 

It reaffirmed its commitment to promoting transparency, ensuring orderliness, and building public confidence in Nigeria’s expanding digital payment ecosystem.

 

The Commission also assured citizens that the move will not disrupt legitimate businesses but will instead help stabilise the industry by ensuring that all operators are traceable, accountable, and compliant with national financial regulations.

 

As the deadline approaches, stakeholders across the PoS and fintech sectors are expected to engage with the CAC to align their operations with statutory requirements, safeguarding both the economy and the investments of millions of Nigerians.