CAC Sets New Deadline for Mandatory POS Operator Registration in Nigeria

The Corporate Affairs Commission (CAC) in Nigeria has announced a new compliance deadline for the registration of all Point of Sale (POS) operators by January 1, 2026, to address the risks posed by unregistered operators in the country's growing POS sector. The move aims to sanitize the sector and prevent potential fraud and financial instability.

The CAC has warned that unregistered agents, including those supporting fintech platforms, pose a threat to the financial system. The Central Bank of Nigeria (CBN) has also issued directives to banks and fintech companies to geo-tag four million POS terminals within 60 days to enhance monitoring and compliance.