.png)
20 hours ago
5
The Corporate Affairs Commission (CAC) has issued a stern warning to Point-of-Sale (PoS) operators nationwide, announcing a sweeping enforcement campaign against businesses operating without proper registration.
In a statement released Saturday via its official Instagram page, the Commission noted a surge in unregistered PoS operators, describing the trend as a violation of the Companies and Allied Matters Act 2020 and the Central Bank of Nigeria’s Agent Banking Regulations.
The commission accused some fintech firms of fueling the problem by onboarding unregistered agents, calling the practice reckless and a threat to Nigeria’s financial system. It warned that such activities expose millions of Nigerians, including small business owners and rural communities, to financial risks and potential fraud.
READ ALSO: Growing number of APC governors shows Nigerians’ trust – Sanwo-Olu
The Commission declared that beginning January 1, 2026, no PoS operator will be permitted to conduct business in Nigeria without completing CAC registration. “Unregistered PoS terminals will be seized or shut down by security agencies. Fintechs enabling illegal operations will be placed on a watchlist and reported to the CBN. Compliance is mandatory,” the statement read.
This move follows earlier threats of a clampdown in 2024, which had been opposed by operators.
The post CAC warns PoS operators, sets Jan 2026 deadline for mandatory registration appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.
