The Corporate Affairs Commission (CAC) has issued a stern warning to Point-of-Sale (PoS) operators across Nigeria, declaring that anyone running a PoS business without proper registration will face sanctions beginning January 1, 2026.
The commission raised the alarm in a statement posted on its official Instagram page on Saturday, noting a surge in unregistered PoS businesses nationwide.
According to the CAC, operating without registration violates the Companies and Allied Matters Act (CAMA) 2020 and goes against the Central Bank of Nigeria (CBN) guidelines on agent banking.
The agency also accused some financial technology companies of enabling unregistered PoS agents, exposing millions of citizens — especially small traders and rural communities to financial risks and fraud.
“This practice poses serious risks to Nigerians and undermines regulatory safeguards,” the commission said.
“From January 1, 2026, all PoS operators must be duly registered or face enforcement actions.”
The CAC said security agencies will assist in enforcing compliance nationwide, while fintech companies that continue to support unregistered PoS operators will be reported to the CBN and may be placed under regulatory watch.
The announcement follows recent investigations by the House of Representatives Committee on Cryptocurrency and PoS Operations, which uncovered rising fraud linked to PoS terminals.
These include cloned machines, unidentified operators, illegal cryptocurrency transactions, and poor customer verification practices.
Committee officials warned that the lapses are fuelling cybercrime, financial losses and wider security threats.
PoS operators and fintech platforms have until the end of December to comply.
“Operators who fail to register by January will face prosecution,” the CAC said.
The commission urged business owners to begin the registration process immediately to avoid disruption.
