Unregistered PoS agents face arrest, terminal seizure — CAC issues strong order

The Corporate Affairs Commission (CAC) has warned Point-of-Sale (PoS) business owners across Nigeria that anyone operating without proper registration will soon face serious penalties, PM news can report.

In a statement posted on Saturday through its official Instagram account, the CAC said it has noticed a rising number of PoS agents running businesses without registering with the commission.

The agency said this goes against the Companies and Allied Matters Act 2020 and also violates the Central Bank of Nigeria’s regulations on agent banking.

The CAC further accused some financial technology companies of allowing unregistered PoS agents to operate on their platforms.

According to the CAC, this practice exposes millions of Nigerians especially small business owners and people in rural areas to financial risks and possible fraud.

The commission announced that beginning from January 1, 2026, every PoS business must be fully registered.

The statement said:

Any PoS terminal not registered will be shut down or seized.

Security agencies will help enforce this order nationwide.

Fintech companies that continue to support unregistered operators will be reported to the Central Bank of Nigeria and may be placed under watch.

Recent investigations by the House of Representatives Committee on Cryptocurrency and PoS Operations also revealed growing fraud involving PoS businesses.

Reports include cloned terminals, unidentified agents, illegal crypto activities, and poor customer identification practices.

According to the committee chairman, these lapses are exposing Nigerians to cybercrime, financial losses, and security threats.

PoS operators have till January to register it face persecution from CAC.