The Corporate Affairs Commission has warned that major fintech firms, including Opay and Moniepoint, may be placed on its regulatory watchlist for allegedly enabling unregistered Point of Sale operators. According to an enforcement notice issued Friday, the CAC said any fintech found facilitating such activities will be reported to the Central Bank of Nigeria for sanctions as it intensifies its clampdown in line with CAMA 2020 and CBN Agent Banking Regulations.
The commission announced that all unregistered POS operators will be shut down from January 1, 2026, stressing that “this reckless practice… must stop.” It added that any fintech supporting unregistered agents will be monitored and reported to the apex bank. The CAC urged all operators to comply immediately, while the Association of Mobile Money and Bank Agents in Nigeria has yet to comment on the directive.