CAC Orders Mandatory PoS Registration by January 2026.
The Corporate Affairs Commission (CAC) has issued a firm directive requiring all point-of-sale (PoS) operators to register their businesses by January 1, 2026, warning that failure to comply will result in the seizure of unregistered terminals. In a notice released on December 6, 2025, the CAC cited a “rising number of PoS operators running without registration” as a violation of the Companies and Allied Matters Act (CAMA 2020) and the Central Bank of Nigeria’s agent banking regulations. The commission stressed that the practice, sometimes facilitated by fintech companies, poses a significant risk to the nation’s financial system and the safety of citizens’ funds. “Effective 1 January 2026, no PoS operator will be allowed to operate without CAC registration,” the statement read. The move reinforces a 2024 government mandate aimed at curbing fraud and enhancing transparency across the rapidly growing agent banking sector. Nigeria’s PoS ecosystem now spans over 1.9 million agents, and transaction volumes have surged. The Nigeria Inter-Bank Settlement System reported that PoS transactions hit ₦10.51 trillion in the first quarter of 2025, marking a 301.67 per cent increase from the same period the previous year. Regulators have responded with tighter oversight. In August, the Central Bank of Nigeria restricted PoS terminals to within 10 metres of their registered addresses. The CAC’s latest directive signals direct enforcement, with security agencies authorized to seize or shut down unregistered terminals. Fintech companies found supporting unregistered operators will face heightened scrutiny, be reported to the CBN, and may be added to a watch list. As of March 2025, there were 8.36 million registered PoS terminals in Nigeria, with 5.90 million actively operating. Concerns persist over fraud, weak KYC processes, and insufficient supervision, prompting authorities to push for full formalization before the new year. The deadline sets the stage for one of the most significant regulatory crackdowns on the country’s PoS sector in recent years.
| 2025-12-06 19:20:55