Unregistered Point-of-Sale operators (PoS) operators before January 1,2026 will be barred from conducting business, the Corporate Affairs Commission (CAC) has said.
Conveying this in a statement on Saturday, the Commission lamented the increase in unregistered PoS operators in Nigeria.
The statement quoted that operating an unregistered PoS business violates the Companies and Allied Matters Act 2020 and the Central Bank of Nigeria’s Agent Banking Regulations.
Faulting some fintech firms for onboarding unregistered agents, the Commission described the act as reckless and harmful to the stability of Nigeria’s financial system.
The development, it said, exposes millions of Nigerians to economic and investment risks.
It added:“Fintechs enabling illegal operations will be placed on the watchlist and reported to the CBN. All operators are advised to regularise immediately. Compliance is mandatory
“Beginning from 1st January 2026, no PoS operator will be allowed to conduct business in Nigeria without completing full registration.”