Reported by: Ime Richard Aondofa | Edited by: Gabriel Osa
The Corporate Affairs Commission (CAC) has issued a decisive directive requiring all Point of Sale (POS) operators in Nigeria to register with the commission, warning that failure to comply will result in immediate shutdown and seizure of unregistered terminals. The notice, effective from 1st January 2026, emphasizes strict enforcement by security agencies nationwide.
The CAC cited concerns over the growing number of POS operators functioning without proper registration, a violation of the Companies and Allied Matters Act (CAMA) 2020 and Central Bank of Nigeria (CBN) Agent Banking Regulations. Officials stressed that such unregulated activities, often facilitated by some fintech firms, expose Nigeria’s financial system and the investments of its citizens to significant risk.
The commission clarified that unregistered POS terminals will be seized and operators shut down, while fintech companies enabling such illegal operations will be monitored and reported to the CBN. CAC management urged operators to regularize their registration immediately to avoid punitive action.
The move signals the government’s commitment to strengthening oversight of financial services infrastructure, protecting consumer interests, and ensuring the integrity of Nigeria’s digital payment ecosystem.
Stone Reporters’ remark: Similar regulatory crackdowns in the past have shown that clear enforcement deadlines paired with security backing lead to rapid compliance among operators, particularly in the fintech and banking sectors.
Professional observation suggests that while the measure may cause initial disruption for some operators, it is a necessary step toward formalizing the rapidly expanding POS network, mitigating financial risks, and reinforcing regulatory accountability. The CAC’s action underscores the growing emphasis on formalization and compliance within Nigeria’s digital finance landscape.
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