The Digest:
The Corporate Affairs Commission has mandated that all Point-of-Sale operators in Nigeria must register their businesses by January 1, 2026, or risk having their terminals seized.
Key Points:
- The CAC has set a January 1, 2026, deadline for all PoS operators to register their businesses.
- Unregistered operators after the deadline risk having their terminals seized by security agencies.
- The directive targets what the CAC calls a "rising number" of operators violating CAMA 2020 and CBN rules.
- Fintech companies enabling unregistered agents will be reported to the CBN and placed on a watchlist.
- The move follows a 2024 mandate aimed at curbing fraud and increasing transparency in the sector.
- Nigeria has over 8.3 million registered PoS terminals, with 5.9 million currently active.
- PoS transaction value surged by over 300% year-on-year to ₦10.51 trillion in Q1 2025.
- The CBN had earlier restricted PoS terminals to a 10-meter radius from their registered address.
This regulatory clampdown aims to bring structure and accountability to a critical yet vulnerable node in Nigeria's financial ecosystem. Rooted in the Storm.
Sources: Business Post, Vanguard
