CAC warns Opay and Moniepoint over unregistered POS

CAC warns Opay and Moniepoint over unregistered POS

Nigeria’s Corporate Affairs Commission warned it may place fintechs like Opay and Moniepoint on a watchlist for enabling unregistered Point of Sale operators and will report them to the Central Bank of Nigeria.

The action is part of a clampdown on unregistered POS businesses, with a deadline of January 1, 2026, for all operators to register their businesses or face shutdown, citing risks to the financial system.

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