The Corporate Affairs Commission (CAC) has announced a nationwide enforcement campaign targeting Point-of-Sale (PoS) operators conducting business without proper registration. The agency has set a mandatory compliance deadline of January 1, 2026, warning that violators will face stringent sanctions.
In a statement posted on its official Instagram page on Saturday, the Commission condemned the growing number of unregistered PoS operators, describing the trend as a breach of the Companies and Allied Matters Act (CAMA) 2020 and the Central Bank of Nigeria’s Agent Banking Regulations.
The CAC also accused some fintech companies of fueling the problem by onboarding unregistered agents—a practice it labelled “reckless and dangerous to Nigeria’s financial system.”
According to the Commission, the proliferation of unregistered PoS terminals exposes millions of Nigerians to heightened risks of fraud, cybercrime, and other financial vulnerabilities, particularly in rural communities and among small business owners.
The statement emphasised that registration is now compulsory for all PoS operators wishing to remain in business.
“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,” the Commission warned.
It added that fintech companies aiding non-compliant agents “will be placed on the watchlist and reported to the CBN.”
Saturday’s announcement marks a renewed push following an earlier directive issued in May 2024 requiring PoS operators to register their businesses. The initial deadline of July 7, 2024, was later extended to September 5, 2024, due to widespread non-compliance.
The House of Representatives ad hoc committee investigating the economic and security risks associated with PoS operations had previously raised alarm over rising fraud in the sector. Reports highlighted the activities of unprofiled agents, cloned terminals, anonymous transactions, and weak Know-Your-Customer (KYC) measures.
The mandatory registration drive is part of broader government efforts to improve traceability, strengthen financial security, and regulate the country’s massive agent banking ecosystem—which accounted for more than 26% of fraud incidents in 2023, according to the Nigeria Inter-Bank Settlement System (NIBSS).