The Corporate Affairs Commission has issued a firm warning to PoS operators nationwide. The agency announced a new enforcement campaign targeting operators who run without proper registration. The Commission revealed this update in a statement released on its Instagram page on Saturday.
According to the CAC, the number of unregistered PoS businesses has continued to rise. This surge violates the Companies and Allied Matters Act 2020 and the CBN Agent Banking Regulations. The Commission stressed that these laws require every PoS operator to complete full registration before offering services.
Furthermore, the CAC accused some fintech companies of aiding the problem. It said some platforms onboard unregistered agents, exposing the financial system to serious risks. This reckless practice, the Commission noted, endangers millions of Nigerians, especially small business owners and rural customers.
To restore order, the CAC announced a strict deadline. Starting 1 January 2026, no PoS operator will operate without CAC registration. Security agencies will enforce compliance nationwide. They will seize or shut down unregistered terminals. The CAC also warned that fintechs supporting illegal activities will face sanctions. Offending platforms will be reported to the CBN and placed on a watchlist.
Meanwhile, lawmakers have raised fresh concerns about increasing fraud linked to PoS operations. The Chairman of the House ad hoc committee, Olufemi Bamisile, noted several reports of cloned terminals and weak KYC practices. He warned that these loopholes expose Nigerians to financial losses, cybercrime, and security threats.
The CAC urged all operators to register immediately, stressing that compliance is mandatory.
