By Ngbede Silas
The Corporate Affairs Commission (CAC) announced that it will launch a nationwide enforcement process targeting all unregistered Point of Sale (POS) operators starting in January 2026. This measure responds to growing concerns about fraud, identity theft, and financial crimes linked to anonymous or unregistered POS businesses across the country.
Registrar General Hussaini Magaji explained that many POS agents have continued to operate outside the law despite repeated instructions to register their businesses with the CAC. He emphasized that registration is a legal requirement under the Companies and Related Matters Act (CAMA) and is essential to improving accountability and protecting Nigerians who rely on POS transactions daily.
Magaji stated that the CAC will collaborate with security agencies to enforce the directive, warning that operators who fail to comply by the deadline will face penalties. He noted that the enforcement of the regulation is not intended to frustrate POS operators, but rather to clean up the sector and create a safer financial environment for citizens and businesses.
The commission also urged operators to take advantage of its simplified registration process, which allows individuals to register their businesses online in a matter of hours.
The January 2026 deadline has put pressure on thousands of point-of-sale operators who have yet to formalize their businesses. Financial analysts believe this measure could significantly reduce fraud and, at the same time, help regulators better oversee activities within the burgeoning agency banking sector.
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