The Corporate Affairs Commission (CAC) has announced a nationwide enforcement drive to eliminate the operations of unregistered Point-of-Sale (PoS) agents, directing all operators to regularise their businesses before January 1, 2026.
In a statement issued by its management, the commission warned that thousands of PoS agents are operating in violation of the Companies and Allied Matters Act (CAMA) 2020 and the Central Bank of Nigeria (CBN) Agent Banking Regulations, citing the trend as a growing threat to the financial system.
The CAC described the proliferation of unregistered PoS outlets—often enabled by some fintech companies—as “reckless” and harmful to investor confidence and national financial security.
From the compliance deadline, the commission said security agencies will enforce a total shutdown of unregistered PoS terminals, while fintech companies aiding such operators will be placed on a watchlist and reported to the CBN.
“Unregistered PoS terminals will be seized or shut down. Fintechs enabling illegal operations will be sanctioned,” the commission said.
The CAC noted that the exercise is part of broader reforms aimed at sanitising the financial services space, strengthening regulatory compliance, and enhancing the safety of users and investors.
It reaffirmed its commitment to transparency and orderliness in the sector, saying the enforcement aligns with its mandate to protect the economy and ensure efficient service delivery.
