The clock is ticking for Point of Sale (POS) operators across Nigeria as the Corporate Affairs Commission (CAC) has issued a final ultimatum: regularise your business by January 1, 2026, or face immediate shutdown and possible prosecution.
In a forceful statement released this week, the Commission confirmed that the grace period for POS agents—originally extended throughout 2024—has officially ended. From New Year’s Day, security agencies and fintech providers are fully authorised to enforce strict compliance nationwide.
“No Certificate, No Business”
Under the new directive, all POS operators—whether independent or operating under major fintech platforms such as Moniepoint, OPay and PalmPay—must register their businesses with the CAC.
The move is part of a broader collaboration with the Central Bank of Nigeria (CBN) to tighten financial security, curb fraud, and stop the growing use of anonymous POS terminals for scam operations, money laundering, and ransom payments.
According to the CAC, any operator found without a valid Business Name certificate after January 1, 2026, will face immediate seizure of POS terminals by security agencies, freezing of agent accounts by fintech providers, and possible arrest and prosecution for aiding financial crimes through unregistered channels.
Fintechs Placed on Notice
The enforcement drive is not limited to agents alone. The CAC has issued a strong warning to fintech companies, making it clear they will be held vicariously liable for the activities of unregistered agents on their networks.
“Any fintech found onboarding or transacting with unregistered agents after the deadline will be placed on a watchlist and reported to the CBN for heavy sanctions,” the statement read.
Already, many agents have confirmed receiving notifications from their aggregators, urging them to upload valid CAC certificates before December 31 to avoid automatic account restrictions.
A Race Against Time
With less than three weeks to the enforcement deadline, registration centres and the CAC online portal are expected to experience heavy traffic.
Operators are advised to register under the “Business Name” category, the standard requirement for sole proprietors and small merchants. The process typically takes 3 to 7 working days to complete, meaning last-minute applicants risk missing the deadline due to portal congestion.
Bottom Line
For Nigeria’s POS agents, the era of anonymous operation is officially over. With registration costs estimated between ₦20,000 and ₦30,000, compliance is now a small price to pay to stay in business in 2026 and beyond.
