CAC Puts Opay and Moniepoint on Watchlist, Alerts CBN About Fintechs

Table of Contents

• CAC's Warning
• Possible Sanctions
• Nationwide Clampdown
• Risks to Financial System
• Registration Urged
• AMMBAN's Response

The Corporate Affairs Commission (CAC) has issued a warning that it may place prominent fintech companies, including Opay and Moniepoint, on its regulatory watchlist for allegedly facilitating unregistered Point of Sale (POS) operators throughout the country.

The commission stated that any fintech firm found to be supporting the activities of unregistered POS agents will be reported to the Central Bank of Nigeria (CBN) for appropriate penalties.

This information was included in an enforcement notice released on Friday, as the CAC intensifies its nationwide crackdown on unregistered POS businesses. This action aligns with the Companies and Allied Matters Act (CAMA) 2020 and the CBN’s Agent Banking Regulations.

According to the notice, starting from January 1, 2026,.

“This irresponsible practice, often facilitated by certain fintech companies, jeopardizes Nigeria’s financial system and the investments of its citizens. This must come to an end,” the commission remarked.

The CAC stressed that any fintech firm found to be supporting unregistered operators will be monitored and reported to the central bank.

“Fintechs that enable unregistered operators will be placed on a watchlist and reported to the CBN,” the CAC added.

The commission urged all POS operators to register immediately, emphasizing that compliance is mandatory ahead of the enforcement deadline.

Meanwhile, the Association of Mobile Money and Bank Agents in Nigeria (AMMBAN) has yet to provide a comment on the new enforcement directive.

Eze Chidiebere Paul

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