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CAC warns Opay, Moniepoint, others may be placed on watchlist.
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Fintechs aiding unregistered POS agents will be reported to CBN.
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Commission begins shutdown of illegal POS operators from January 1, 2026.
The Corporate Affairs Commission(CAC) has cautioned that major fintech firms such as Opay and Moniepoint risk being placed on its regulatory watchlist for allegedly supporting the operations of unregistered Point of Sale agents nationwide.
The warning, contained in an enforcement notice issued on Friday, forms part of the commission’s intensified campaign against POS operators who have failed to comply with registration requirements under the Companies and Allied Matters Act 2020 and the Central Bank of Nigeria’s Agent Banking Regulations.
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According to the CAC, the clampdown on illegal POS operators will formally commence on January 1, 2026, with the commission vowing to shut down all operators who have not regularised their status.
The regulator accused some fintech platforms of enabling the “reckless practice” of onboarding unregistered POS agents, noting that the trend poses risks to the financial system and exposes citizens to fraudulent activities.
It warned that any fintech company found facilitating unregistered operations would be monitored and subsequently reported to the Central Bank of Nigeria for sanctions.
The commission urged all POS agents to complete their registration immediately, stressing that full compliance is non-negotiable ahead of the enforcement date.
The Association of Mobile Money and Bank Agents in Nigeria has yet to issue an official response to the directive.
