The Corporate Affairs Commission (CAC) has warned against unregistered Point-of-Sale (PoS) operators nationwide.
In a statement via it’s X handle on Saturday, December 6, the commission stated that operators running without registration are violating CAMA 2020 and CBN Agent Banking Regulations.
It however alleged that the practice is being enabled by “some fintech companies”, putting “Nigeria’s financial system and citizens’ investments at risk”.
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The statement reads: “The CAC has observed the rising number of POS operators running without registration, violating CAMA 2020 and CBN Agent Banking Regulations.
This reckless practice often enabled by some fintech companies puts Nigeria’s financial system and citizens’ investments at risk. This must stop.
“EFFECTIVE 1 JANUARY 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 by Security Officials. Fintechs enabling illegal operations will be placed on watchlist and reported to the CBN. All operators are advised to regularize immediately. Compliance is mandatory.”
