The Corporate Affairs Commission has issued a strong warning to Point-of-Sale operators nationwide, announcing a crackdown on businesses operating without proper registration
In a statement shared on its Instagram page on Saturday, the CAC said it had observed a growing number of PoS operators conducting business without registration.
Punch Online reports that the commission had previously threatened similar enforcement measures in 2024, which faced pushback from some operators.
The CAC emphasized that the proliferation of unregistered PoS operators violates the Companies and Allied Matters Act 2020 and the Central Bank of Nigeria’s Agent Banking Regulations. It also accused some fintech firms of contributing to the problem by onboarding unregistered agents, calling the practice reckless and hazardous to Nigeria’s financial system. The commission warned that such activities put millions of Nigerians, including small business owners and rural communities, at financial and investment risk.
The statement made it clear that from 1 January 2026, no PoS operator will be allowed to operate in Nigeria without completing full CAC registration.
“Effective 1 January 2026, no PoS operator will be allowed to operate without CAC registration. Security agencies will enforce nationwide compliance. Unregistered PoS terminals will be seized or shut down by security officials. Fintechs enabling illegal operations will be placed on the watchlist and reported to the CBN. All operators are advised to regularise immediately. Compliance is mandatory,” the statement read in part.
The Nation recently reported that Olufemi Bamisile, Chairman of the House of Representatives ad hoc committee on the Economic, Regulatory and Security Implications of Cryptocurrency Adoption and PoS Operations in Nigeria, raised concerns over rising fraud linked to PoS activities and unlicensed crypto operations in the sector.
The lawmaker said his committee had received multiple reports of unprofiled agents, cloned terminals, anonymous transactions, and weak Know-Your-Customer practices, all of which he warned pose serious risks of financial loss, cybercrime, and security breaches for Nigerians.
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Pos business doesnt need registration.It is not a lifetime business that is sustainable.this is another way tinuble want to extort from the struggling nigerians