The Corporate Affairs Commission has announced a nationwide clampdown on unregistered Point-of-Sale operators, setting January 1, 2026, as the date when enforcement will begin.
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The warning came in a public notice issued on Saturday.
LIST OF APPLICATIONS FOR REGULARISATION OF AREA COUNCIL LAND DOCUMENTS NULLIFIED/CANCELLED BY THE HONOURABLE MINISTER OF FCT
The commission said it took the step after observing a sharp rise in PoS businesses running without proper registration, in violation of the Companies and Allied Matters Act 2020 and Central Bank of Nigeria regulations guiding agent banking. According to the notice, many operators are being aided by some fintech companies, a development the commission described as dangerous to the country’s financial system.
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LIST OF APPLICATIONS FOR REGULARISATION OF AREA COUNCIL LAND DOCUMENTS NULLIFIED/CANCELLED BY THE HONOURABLE MINISTER OF FCT
The CAC stated that unregulated PoS activity exposes Nigerians to fraud, unchecked financial losses, and broader security threats. It said the growing number of operators outside the law has made stricter action unavoidable.
Under the new directive, any PoS business that fails to register before January 1 will be shut down. Security agencies will carry out enforcement across the country, including the seizure of unregistered terminals. Fintech companies linked to illegal operators will be placed on a watchlist and reported to the Central Bank.
The commission urged all operators to complete their registration without delay. It stressed that compliance will be compulsory once the deadline takes effect.
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