By Passman Akpos
Point-of-Sale (PoS) operators across Nigeria have rejected plans by the Corporate Affairs Commission (CAC) to enforce compulsory registration of all PoS agents from January 1, 2026, insisting that the directive has no constitutional basis and contradicts existing financial regulations.
In a public notice issued on Saturday, the CAC warned that PoS operators who do not complete their registration before the January 1 deadline would be barred from business. The agency claimed the directive was necessary following a surge in unregistered PoS outlets nationwide, adding that failure to register violates both the Companies and Allied Matters Act (CAMA) 2020 and Central Bank of Nigeria (CBN) Agent Banking Regulations.
But PoS operators fired back, describing the directive as illegal, misguided, and outside the CAC’s jurisdiction.
Speaking with Sunday PUNCH, the National President of the Conference of Agents Associations in Nigeria, Fasasi Atanda, condemned the commission’s enforcement plan, insisting that the CAC was attempting to regulate a space already governed by CBN laws.
According to him, nothing in the CBN Agent Banking Regulation compels individual PoS operators to register with the CAC.
> “CAC has no constitutional right to enforce all individuals to register with it. Only those that are non-individuals, those operating as business entities, can be forced to register,” he maintained.
Atanda explained that PoS operations are classified into two categories—individual and non-individual—and stressed that agents are free to operate under either category without CAC interference.
He vowed to take the commission before the National Assembly and other relevant agencies, reiterating that PoS agents already undergo strict regulation by the banking sector.
> “They cannot mislead Nigerians by claiming PoS agents are unregistered. Every PoS agent is already registered with a financial institution. This industry is one of the most regulated in the country,” he said.
Atanda likened CAC’s position to demanding that commercial bank branches register individually, describing it as “senseless” since PoS operators work under the supervision of licensed financial institutions.
He also dismissed the CAC’s suggestion that mandatory registration would improve security.
> “CAC has no security in tracking and verifying addresses,” Atanda argued, accusing the commission of pursuing revenue rather than public interest.
He urged regulatory authorities to caution the CAC, warning that agents would not comply with the directive.
The brewing confrontation sets the stage for a potential legal battle as operators prepare to challenge the directive, arguing that the commission is overstepping its regulatory powers.
