Nigeria's CAC to Crack Down on Unregistered PoS Operators and Fintechs Enabling Fraud
The Corporate Affairs Commission (CAC) in Nigeria has issued a strong warning against unregistered Point of Sale (PoS) operators, targeting businesses operating without proper registration. The CAC aims to crack down on the growing number of PoS operators running businesses without necessary registration, accusing several fintech companies of contributing to the proliferation of unregistered PoS agents.
The commission emphasized the need for compliance by January 1, 2026, threatening to shut down unregistered PoS operators nationwide. The move is to protect millions of Nigerians, including small business owners, from financial risks associated with unregulated PoS activities.
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