Corporate Affairs Commission threatens clampdown on unregistered Point-of-Sales operators
The Corporate Affairs Commission has declared a nationwide enforcement campaign against businesses operating without proper registration, particularly Point-of-Sales (PoS) operators across the country.
Penpushing reports that the Commission gave the stern warning in a statement issued on Saturday on its Instagram page, pointing out that it had observed an increase in the number of Point of Sales (PoS) operators running without registration
The commission said the rising number of unregistered Point of Sales (PoS) operators was a clear violation of the Companies and Allied Matters Act 2020, as well as the Central Bank of Nigeria’s Agent Banking Regulations
Penpushing further reports that the commission accused some fintech companies of enabling this trend by onboarding unregistered agents, a practice it described as reckless and dangerous to Nigeria’s financial system.
The Corporate Affairs Commission (CAC) warned that such activities expose millions of Nigerians — including small business owners and rural communities — to financial and investment risks, emphasizing that beginning January 1, 2026, no Point of Sales (PoS) operator will be allowed to conduct business in Nigeria without completing full commission registration
“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’, the commission declared.
“Fintechs enabling illegal operations will be placed on the watchlist and reported to the CBN. All operators are advised to regularise immediately. Compliance is mandatory,” the statement read in part.
Penpushing also reports that it would be recalled that the Corporate Affairs Commission (CAC) had earlier threatened a clampdown on the activities of Point of Sales (PoS operators in 2024, a move the operators opposed.
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