By Nworisa Michael
The Corporate Affairs Commission (CAC) has announced a major regulatory shake-up for Nigeria’s booming Point-of-Sale (PoS) business, warning that all unregistered operators will be shut out of the system from January 1, 2026.
In a public notice released on Saturday, the Commission raised concerns over the growing number of PoS agents operating illegally across the country an issue it says now poses serious risks to the financial system.
According to CAC, running a PoS business without proper registration violates the Companies and Allied Matters Act (CAMA) 2020 as well as the Central Bank of Nigeria’s Agent Banking Regulations.
The Commission also criticised some fintech companies for onboarding agents without confirming their registration status, describing the trend as unsafe, reckless and destabilising.
CAC warned that such fintechs may be placed on a regulatory watchlist and reported to the CBN, while operators who fail to comply will automatically lose the right to carry out PoS transactions nationwide.
The notice stressed that unregistered operations leave millions of Nigerians especially rural users and small businesses vulnerable to fraud, loss of funds, and unresolved disputes.
The Commission urged all operators to regularise their business immediately, insisting that compliance is not optional.
This development comes amid repeated calls for tighter monitoring of agent banking services following widespread cases of fraud associated with PoS transactions across Nigeria.