CAC Issues Nationwide Crackdown On Unregistered PoS Operators Starting January 2026
The Corporate Affairs Commission has announced a nationwide crackdown on unregistered Point-of-Sale operators, warning that all PoS businesses must complete proper registration to continue operating in Nigeria.
In a statement posted on its Instagram page on Saturday, the CAC noted a surge in PoS operators running without official registration. The commission said this trend violates the Companies and Allied Matters Act 2020 and the Central Bank of Nigeria’s Agent Banking Regulations.
The CAC also accused some fintech companies of allowing unregistered agents to operate, describing the practice as dangerous and a threat to Nigeria’s financial system. It warned that unregulated operations put millions of Nigerians, including small business owners and rural communities, at risk of financial and investment losses.
The commission stated that beginning 1 January 2026, security agencies will enforce compliance nationwide. Unregistered PoS terminals will be seized or shut down, and fintech firms that facilitate illegal operations will be flagged and reported to the Central Bank of Nigeria.
“Effective 1 January 2026, no PoS operator will be allowed to operate without CAC registration. All operators are urged to regularise their businesses immediately. Compliance is mandatory,” the statement read.
The move follows growing concerns over fraud in PoS operations and unlicensed cryptocurrency activities. Olufemi Bamisile, Chairman of the House of Representatives ad hoc committee on Economic, Regulatory, and Security Implications of Cryptocurrency Adoption and PoS Operations, highlighted issues including unprofiled agents, cloned terminals, anonymous transactions, and weak Know-Your-Customer measures, all of which expose Nigerians to financial loss, cybercrime, and security breaches.
