The Corporate Affairs Commission (CAC) has mandated all Point-of-Sale (PoS) operators nationwide to register with the Commission by 1 January 2026, warning that any operator who fails to comply will be barred from conducting business in Nigeria.
In a public notice issued on Saturday, the CAC expressed concern over the growing number of unregistered PoS businesses across the country. The Commission stated that running a PoS enterprise without proper registration violates the Companies and Allied Matters Act (CAMA) 2020 as well as the Central Bank of Nigeria (CBN) Agent Banking Regulations.
The Commission also criticised some fintech companies for onboarding unregistered agents, describing the practice as reckless and detrimental to the stability of the country’s financial system. It noted that such actions expose millions of Nigerians—including traders, small business owners, and rural users—to avoidable economic and investment risks.
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“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.
“Beginning from 1st January 2026, no PoS operator will be allowed to conduct business in Nigeria without completing full registration,” the CAC said.