The Corporate Affairs Commission CAC has announced a nationwide crackdown on illegal Point-of-Sale PoS operations, citing widespread non-compliance with registration requirements under CAMA 2020 and Central Bank of Nigeria CBN Agent Banking Regulations. According to the Commission, many PoS operators are running without proper documentation, a trend it says exposes the financial system and the public to significant risks.
The CAC stated that, beginning 1 January 2026, no PoS operator will be permitted to operate without formal registration. Security agencies have been directed to enforce full compliance across the country. As part of the enforcement drive, unregistered PoS terminals will be seized or shut down by authorised officials.
The notice also warned fintech companies that enable unregistered operators. Such firms will be placed on a regulatory watchlist and reported to the CBN for further action. The Commission urged all PoS operators to complete their registration immediately, emphasising that compliance is compulsory.
