Business National News

Starting January 2026, PoS operators barred from operating without CAC certification

ByAdmin

6 December 2025 , , , ,

By Muhammad Abubakar

The Corporate Affairs Commission (CAC) has issued a public notice announcing a nationwide crackdown on unregistered Point of Sale (PoS) operators, with enforcement set to begin on 1 January 2026.

According to the statement, the Commission observed a rapid rise in PoS agents operating without proper registration—an act that violates the Companies and Allied Matters Act (CAMA) 2020 as well as Central Bank of Nigeria (CBN) Agent Banking Regulations. The CAC described the trend as a reckless practice that exposes Nigeria’s financial system and citizens’ investments to significant risks, allegedly aided by some fintech companies.

From the effective date, no PoS operator will be allowed to run without CAC certification. Security agencies have been directed to ensure full compliance, including seizing or shutting down unregistered PoS terminals. Fintech companies found enabling such illegal operations will be placed on a watchlist and reported to the CBN.

The Commission urged all PoS operators to regularize their business registrations immediately, stressing that compliance is mandatory. The notice was signed by CAC Management on 6 December 2025.

ByAdmin

Related Post

Local News

Eight Killed as BH Terrorists Attacks Army Base in Borno

5 June 2026 Admin
News Sports

Nigerian Player Osimhen Ranked Among World’s Best Striker

5 June 2026 Admin
News

Police Rescue Kidnap Victims, Arrest Four Suspects in Bauchi

5 June 2026 Admin

Leave a Reply

Your email address will not be published. Required fields are marked *

In Case You Missed It

Local Opinion Politics

THE KANO RENAISSANCE: HOW GOVERNOR ABBA KABIR YUSUF IS REWRITING THE STORY OF DEVELOPMENTBy Dr. Saifullahi Shehu ImamAs Kano State marks the third anniversary of Governor Abba Kabir Yusuf’s administration, the evidence of purposeful leadership is visible across every corner of the state from the bustling metropolitan center to the remotest rural communities. Today, the popular expression #ABBAISWORKING is no longer a mere political slogan; it has become a verified reality, supported by over 1,000 major achievements that have fundamentally reshaped the developmental trajectory of Nigeria’s most populous state.Perhaps no sector reflects Governor Yusuf’s vision for human capital development more than education. His administration has fundamentally transformed education in Kano by declaring a State of Emergency and allocating an unprecedented 30–31% of the annual budget, the highest in the nation. This historic fiscal commitment was sustained through the subsequent fiscal cycles, securing education as the primary pillar of governance. Across all 44 Local Government Areas, the administration has directed over ₦1.9 billion through the Community Re-orientation Committee (CRC) to renovate thousands of primary classrooms, plus an additional ₦2.9 billion to build new classroom complexes, decongesting urban schools and constructing modern administrative offices. Over 80,000 sets of three-seater desks have been supplied, rescuing more than 240,000 students from learning on bare floors. The government has hired and integrated over 14,000 permanent, pensionable teachers, including thousands of former BESDA volunteers. Financial barriers have been lowered by providing free textbooks and uniforms for primary students, slashing tertiary registration and tuition fees by 50% at state-owned institutions, and funding examination fees for hundreds of thousands of secondary candidates. The state’s strict targeted funding model has borne immediate fruit, propelling Kano to the top of the national performance chart in the 2025 NECO exams. Furthermore, the revival of the 1,001 Foreign and Domestic Postgraduate Scholarship Scheme has cleared multibillion-naira arrears for stranded medical and engineering scholars in Cyprus and sponsored new cohorts to India and across Nigeria. This holistic investment in infrastructure, teacher welfare, and global scholarships represents the largest commitment to public education in Kano’s recent history, ensuring today’s students become tomorrow’s leaders.In healthcare, the administration has achieved monumental, system-wide progress by matching robust institutional investment with deeply compassionate public policy. This vision is explicitly backed by an aggressive fiscal strategy; for the 2025 fiscal year, over ₦90 billion amounting to an impressive 16.5 percent of the state’s total budget has been earmarked for healthcare development. This substantial investment underscores the administration’s unwavering commitment to making healthcare a cornerstone of its governance, moving far beyond basic audits and surveys into real, well-funded structural transformation. A landmark triumph of this commitment is the recovery, comprehensive modernization, and recommissioning of the Hasiya Bayero Pediatric Hospital, a vital 86-bed facility that had been controversially sold, now restored to provide specialized care for Kano’s children. In tandem, the administration has completely remodeled and equipped the critical accident and emergency section of the Murtala Muhammad Specialist Hospital (MMSH) and extensively renovated the Bamalli Nuhu Maternity Hospital to drastically combat maternal and infant mortality rates. To institutionalize these health safeguards, the Governor signed the pioneering Kano State Centre for Disease Control and Prevention Law alongside a mandatory Premarital Health Screening Law to shield future generations from preventable illnesses. These structural transformations ensure that high-quality healthcare is no longer a luxury reserved for a privileged few, but an accessible, everyday right for all Kano citizens.In the realm of agricultural transformation and food security, the administration has shifted Kano from a reliance on subsistence farming to a powerhouse of agribusiness. Championing a multi-billion naira input initiative, Governor Yusuf flagged off the historic distribution of 79,200 bags (132 trucks) of highly subsidized fertilizers from the Al-Yuma Fertilizer plant in Madobi Local Government, slashing procurement costs by a massive 50% for local farmers across all 44 LGAs. This was bolstered by an additional ₦1 billion worth of free NPK fertilizers distributed via the Kano Agricultural Supply Company (KASCO) specifically targeting smallholder, female, and disabled farmers. To expand year-round farming capacity, the administration has expanded farmlands and successfully rehabilitated major irrigation schemes across 11 Local Governments, bringing over 1,250 hectares under active development. A crown jewel of this infrastructural strategy is the approval of ₦6.8 billion for the massive Dansoshiya Dam and Irrigation Infrastructure Project in Kiru LGA, designed with a projected storage capacity of 3.1 billion liters of water to empower up to 3,000 farmers in its initial phases alone. These deliberate investments have reduced cultivation overheads, multiplied crop yields, and fortified the regional food supply chain.Youth empowerment and self-reliance form another vibrant pillar of the Kano Renaissance. Rejecting the old paradigms of political exploitation, Governor Yusuf launched a comprehensive master plan to empower 50,000 young people. The administration began by systematically reviving eight specialized entrepreneurship and vocational institutes that had been abandoned by the previous administration. Highlighting this return to functional capacity, a single cohort of 2,260 graduates recently completed training across these institutes including the Informatics Institute, the Horticultural Institute, the Driving Institute, and the Poultry Institute. These youths left the Government House not just with certificates, but with critical operational assets ranging from laptops, tablets, and toolkits, to livestock and feed, alongside financial seed capital to seamlessly launch their commercial journeys.On the security front, proactive, intelligence-driven governance has kept Kano State remarkably peaceful and stable despite intense national security challenges. Governor Yusuf has aggressively reinforced the state’s security architecture by assenting to the law establishing the state’s independent Kano State Security Neighborhood Watch, bringing community policing directly to the grassroots. To maximize operational efficiency and response times, the administration recently boosted the Joint Task Force (JTF) operations by distributing dozens of new vehicles and motorcycles across frontline Local Government Areas. This sustained tranquility stands as an absolute testament to a leadership that deeply understands that the first, most non-negotiable duty of government is the absolute security and welfare of its people.As the people of Kano celebrate these remarkable achievements, there is a growing consensus that continuity will be essential to consolidate the gains already recorded. The transformation witnessed across the state has inspired renewed confidence in leadership and strengthened public optimism about the future. It is therefore understandable that many citizens, stakeholders, professionals, traditional institutions, and community leaders increasingly look toward 2027 with the hope that Governor Abba Kabir Yusuf will be granted another mandate to deepen ongoing reforms and complete the noble work he has begun.May Almighty Allah continue to grant His Excellency wisdom, strength, good health, and divine guidance in the service of Kano State. And may the overwhelming achievements of the past three years pave the way for a successful re-election in 2027, ensuring that the Kano Renaissance continues uninterrupted for the benefit of present and future generations.

6 June 2026 Admin 0 Comments
Education Health Opinion

Sleepless Nights and Energy Drinks: Are Students Putting Their Hearts at Risk?

6 June 2026 Admin 0 Comments
Local News

Eight Killed as BH Terrorists Attacks Army Base in Borno

5 June 2026 Admin 0 Comments
News Sports

Nigerian Player Osimhen Ranked Among World’s Best Striker

5 June 2026 Admin 0 Comments