CAC Cracks Down: Unregistered PoS Operators to Be Shut Down from 2026, Fintechs Enabling Fraud in the Spotlight

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 The Corporate Affairs Commission (CAC) has issued a stern warning to all Point-of-Sale (PoS) operators across Nigeria: if you’re unregistered, your business is at risk.

In a statement shared on its Instagram page on Saturday, the CAC announced a nationwide enforcement campaign targeting PoS operators who are running without proper registration. The Commission noted that this rising trend violates the Companies and Allied Matters Act 2020 and the Central Bank of Nigeria (CBN) Agent Banking Regulations.

Alarmingly, several fintech companies have been flagged for onboarding unregistered PoS agents—a practice the CAC described as reckless and dangerous to Nigeria’s financial ecosystem. According to the Commission, these unregulated operations put millions of Nigerians, including small business owners and rural communities, at risk of financial loss and fraud.

Deadline for Compliance

The CAC has set a strict deadline: starting 1 January 2026, no PoS operator will be allowed to conduct business in Nigeria without proper registration. Security agencies have been tasked to enforce this nationwide. Any unregistered PoS terminals found in operation will be seized or shut down.

Fintech companies enabling these illegal operations will also be monitored closely and reported to the CBN. The CAC urges all operators to regularize their registration immediately, stressing that compliance is non-negotiable.

Fraud Concerns Echoed by Lawmakers

The crackdown aligns with warnings from the House of Representatives’ ad hoc committee on Economic, Regulatory, and Security Implications of Cryptocurrency Adoption and PoS Operations. Committee Chairman Olufemi Bamisile highlighted concerns over unprofiled agents, cloned terminals, anonymous transactions, and poor Know-Your-Customer (KYC) practices. These gaps, he warned, could lead to financial losses, cybercrime, and broader security issues.

As the deadline looms, CAC’s move signals a serious push to protect Nigerians from unregulated PoS operations while holding fintechs accountable for enabling fraud.