The Corporate Affairs Commission (CAC) has issued a strong warning and announced that it will begin a nationwide enforcement exercise targeting Point-of-Sale (PoS) operators who are running their businesses without proper registration. The Commission has set 1 January 2026 as the compulsory compliance deadline.
In a statement posted on its Instagram account on Saturday, the CAC said the growing number of unregistered PoS agents violates the Companies and Allied Matters Act (CAMA) 2020 and the Central Bank of Nigeria’s Agent Banking Regulations.
The Commission also accused some fintech firms of contributing to the problem by onboarding agents who have no formal registration. It described this behaviour as “reckless” and a threat to the stability of Nigeria’s financial system.
According to the CAC, such unregulated activities put millions of Nigerians—especially small business owners and rural communities—at risk of fraud, cybercrime, and other security breaches.
The Commission stressed that all PoS agents must be registered to continue operating.
Part of the statement read: “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.”
This announcement marks a renewed push to enforce an earlier directive first issued in May 2024, which required all PoS operators to register their businesses. The original deadline of 7 July 2024 was later extended to 5 September 2024 due to poor compliance.
The House of Representatives ad hoc committee investigating the economic, regulatory, and security impact of PoS activities had previously raised alarms over rising fraud cases in the sector.
The committee highlighted growing reports of unverified agents, cloned PoS terminals, anonymous transactions, and poor Know-Your-Customer (KYC) processes.
The compulsory registration forms part of a broader government strategy to improve traceability, reduce fraud, and strengthen the regulation of the rapidly expanding agent banking industry, which accounted for more than 26% of fraud cases in 2023, according to the Nigeria Inter-Bank Settlement System Plc (NIBSS).
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