The Corporate Affairs Commission (CAC) says it will begin a nationwide clampdown on unregistered Point-of-Sale (PoS) operators from January 1, 2026.
In a statement issued on Saturday, the commission expressed concern over the growing number of unregistered PoS terminals across the country, describing the trend as a “reckless practice” that contravenes 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, some fintech companies enable these unregistered operations, exposing Nigeria’s financial system and citizens’ funds to avoidable risks.
“This reckless practice often enabled by some fintech companies puts Nigeria’s financial system and citizens’ investments at risk. This must stop,” the statement read.
The commission stressed that, beginning in 2026, no PoS operator will be permitted to operate without proper registration. It added that security agencies have been directed to enforce full compliance across the country.
