New CAC Compliance Rule for PoS Operators Fuels Industry Rift Ahead of 2026 Enforcement

The Corporate Affairs Commission’s newly announced compliance directive requiring all Point-of-Sale (PoS) operators to obtain CAC registration before January 1, 2026 has sparked significant division within Nigeria’s mobile money and agent-banking ecosystem. The policy, which mandates full business registration or risk terminal seizure and operator shutdown, has triggered strong reactions from multiple industry bodies.

According to the CAC, the move aims to address the growing number of unregistered PoS agents — a trend the Commission describes as a threat to national financial security and a violation of existing regulatory frameworks, including the Companies and Allied Matters Act (CAMA) 2020 and the Central Bank of Nigeria’s (CBN) agent-banking guidelines. The Commission has warned that security agencies will enforce the directive nationwide and that fintechs enabling non-compliant operators may be placed on a regulatory watchlist.

However, the announcement has drawn mixed responses from stakeholders.

The Association of Mobile Money and Bank Agents in Nigeria (AMMBAN) has rejected the directive, calling it unnecessary, outside CAC’s mandate, and potentially unconstitutional. AMMBAN argues that PoS agents already undergo extensive profiling through banks and the Nigerian Interbank Settlement System (NIBSS). The group insists that the CAC’s mandate contradicts CBN guidelines, which require only non-individual agents to register as business entities.

In contrast, the Association of Digital Payment and PoS Operators of Nigeria (ADPPON) has expressed support for the government’s intention to sanitize the PoS ecosystem, citing the significant rise in fraud cases targeting financial services. The association, however, cautions that effective implementation will require a coordinated, multi-agency approach involving the CBN, security agencies, fintech firms, and operators.

The conflicting reactions highlight broader tensions within Nigeria’s rapidly expanding PoS and agent-banking landscape, where questions of regulatory authority, financial security, and operator livelihoods continue to shape policy debates. With the 2026 enforcement deadline now in place, stakeholders are calling for clarity, collaboration, and a balanced roadmap that strengthens the sector without undermining financial inclusion.