Nigeria Races to Formalize POS Network by January 2026 Deadline

The Nigerian government is pushing to formalize the country's POS network by January 1, 2026, to strengthen financial inclusion and regulatory oversight. Businesses like David Ojem's small POS terminal operation are now required to register with the CAC and adhere to regulations set by the CBN.

The move aims to address cash distribution challenges and risks in the sector. Registrar General Hussaini Magaji is leading the enforcement efforts to ensure compliance nationwide.