Only about 20 per cent of Nigeria’s point-of-sale (PoS) operators are officially registered with the Corporate Affairs Commission (CAC), the commission’s board chairman has disclosed.
Speaking during a stakeholders’ engagement in Abuja, the CAC board chairman said the low registration rate remains a major concern, as most PoS businesses continue to operate outside the formal regulatory framework.
He said registration is essential for accountability, consumer protection, access to finance and the overall formalisation of businesses in Nigeria. According to him, registering businesses also strengthens public confidence and improves regulatory oversight.
The chairman urged PoS operators yet to register their businesses to comply with the law, stressing that the commission is working to simplify the registration process and encourage greater participation in the formal economy.
He added that the CAC would continue collaborating with relevant stakeholders to improve compliance and ensure more businesses are captured in the country’s official business registry.
The disclosure comes as the commission intensifies efforts to expand business registration and formalise Nigeria’s growing informal sector, particularly the rapidly expanding PoS business, which has become a key channel for financial services across the country.
The board chairman said increasing the number of registered operators would support transparency, improve access to government initiatives and strengthen confidence in the financial ecosystem.
