FG issues directive affecting POS operators nationwide

FG issues directive affecting POS operators nationwide

The Corporate Affairs Commission has warned that Point of Sale operators across the country must complete their registration before January 1, 2026, or risk being shut down.

The commission said in a notice that it has been monitoring the rising number of POS businesses operating without proper registration.

According to the CAC, this has created room for unsafe practices that could expose users and the financial space to risk.

The notice explained that POS operators who fail to register before the deadline will be removed from operation, while their terminals may be taken in by security agencies.

It also stated that security bodies will be involved to ensure full enforcement across Nigeria from the first day of 2026.

The CAC added that companies aiding operators who skip registration will also face scrutiny, as they may be reported to the Central Bank.

It urged all operators to register without delay, saying the process is compulsory for anyone who wants to continue running a POS business.

The statement reads: “The CAC has observed the rising number of PoS operators running without registration, violating CAMA 2020 and CBN Agent Banking Regulations.

“This reckless practice often enabled by some fintech companies puts Nigeria’s financial system and citizens’ investments at risk. This must stop.

“EFFECTIVE 1 JANUARY 2026:
No PoS operator will be allowed to operate without CAC registration.
Security agencies will enforce nationwide compliance.

“Unregistered PoS terminals will be seized or shut down by Security Officials.
Fintechs enabling illegal operations will be placed on watchlist and reported to the CBN.

“All operators are advised to regularize immediately. Compliance is mandatory.”