The Corporate Affairs Commission (CAC), has announced a decisive regulatory move to sanitise Nigeria’s rapidly expanding Point-of-Sale (PoS) industry, declaring January 1, 2026, as the enforcement date for mandatory registration of all PoS operators nationwide.
Rising Concerns Over Unregistered PoS Operators
In a public notice signed by the Commission’s management, the CAC expressed concern over the surge of unregistered PoS operators conducting business in violation of the Companies and Allied Matters Act (CAMA), 2020 and the Central Bank of Nigeria (CBN), Agent Banking Regulations.
According to the Commission, the proliferation of unregistered operators — sometimes enabled by fintech companies — poses significant risks to Nigeria’s financial system and exposes citizens to fraud, cloned terminals, and investment losses. The notice described this as a “reckless practice” and emphasized the urgent need to regulate and formalize the sector.
“Effective January 1, 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. Fintechs enabling illegal operations will be placed on a watchlist and reported to the CBN. All operators are advised to regularize immediately. Compliance is mandatory,” the notice stated.
Enforcement and Compliance
The CAC has outlined strict measures to ensure compliance:
- Seizure or shutdown of unregistered PoS terminals.
- Monitoring and enforcement actions against non-compliant agents.
- Watchlisting fintech companies enabling illegal PoS operations, with reports sent to the CBN.
The Commission urged all PoS operators, sole agents, super agents, and aggregators to regularize their businesses immediately, stressing that compliance is mandatory.
Background: Registration Deadlines and Extensions
This is not the first effort by CAC to regulate the PoS sector. In July 2024, the Commission extended the initial registration deadline from July 7 to September 5, following the expiration of a 60-day registration window. Despite the extension, many operators failed to comply, prompting CAC to reiterate the importance of formal registration.
The CAC stressed that mandatory registration strengthens accountability, curbs fraud, and enhances consumer protection in the agent banking ecosystem. By formalizing the operations of PoS terminals, the Commission aims to secure the integrity of Nigeria’s financial system and protect millions of citizens who rely on PoS services for daily transactions.
Implications for Operators and Fintechs
PoS Operators: Must register immediately or risk losing access to their terminals and potential legal repercussions.
Fintech Companies and Aggregators: Must ensure all agents under their network are registered with CAC to avoid regulatory sanctions.
Customers: While there may be a temporary reduction in operational PoS terminals, the long-term benefits include safer transactions, reduced fraud, and improved financial system trust.
The Bigger Picture
The PoS ecosystem in Nigeria has grown rapidly in recent years, driven by increasing adoption of cashless transactions, agent banking, and fintech solutions. However, rapid growth without proper regulation created vulnerabilities for fraud and financial loss.
By mandating CAC registration, the government seeks to plug loopholes, enforce accountability, and build trust in the sector. The January 1, 2026 deadline marks a critical step toward formalising Nigeria’s agent banking industry and ensuring safe, reliable, and legally compliant PoS operations nationwide.
