The Corporate Affairs Commission (CAC) has announced that it will launch a nationwide enforcement operation targeting unregistered Point of Sale (PoS) operators beginning January 1, 2026.
In a statement issued on Saturday, the Commission said it has observed a surge in PoS businesses operating without proper registration, an act that violates the Companies and Allied Matters Act (CAMA) 2020 as well as the Central Bank of Nigeria’s (CBN) Agent Banking Regulations.
According to the CAC, every PoS agent must be formally registered with the Commission, warning that any operator who fails to comply will have their terminals seized or shut down.
“No PoS operator will be permitted to operate without CAC registration. Security agencies will enforce full compliance nationwide,” the statement read.
The Commission also accused some financial technology companies of enabling unregistered agents, describing the practice as a major threat to the stability of Nigeria’s financial system and harmful to citizens who rely on PoS services.
It warned that such fintechs will be placed on a regulatory watchlist and reported to the CBN.
“The reckless practice of enabling unregistered PoS agents exposes Nigerians’ funds to avoidable risks and must stop,” the agency said, urging operators to regularise their status immediately.
PoS terminals have become a crucial part of Nigeria’s financial ecosystem, especially in underserved communities.
However, regulators said the growing number of unregistered operators has led to an increase in fraud, money-laundering risks, and consumer vulnerability necessitating stricter oversight.
The Commission insisted that full compliance with registration laws is now mandatory for all PoS businesses.
