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BREAKING NEWS: Corporate Affairs Commission (CAC) To Shut Down Unregistered PoS Operators, Targets Fintechs Enabling Fraud

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The Corporate Affairs Commission (CAC) has issued a strong warning to Point-of-Sale (PoS) operators nationwide, announcing an enforcement campaign targeting businesses operating without proper registration.....TAP TO CONTINUE READING

In a statement released on Saturday via its Instagram page, the CAC revealed that it had observed a growing number of PoS operators running their businesses without the necessary registration.

This trend, according to the Commission, is a clear violation of the Companies and Allied Matters Act 2020 and the Central Bank of Nigeria’s (CBN) Agent Banking Regulations.

The CAC accused several fintech companies of contributing to the proliferation of unregistered PoS agents by onboarding them, a practice the Commission described as reckless and harmful to Nigeria’s financial system.

The Commission further warned that such unregulated operations put millions of Nigerians, including small business owners and rural communities, at risk of financial and investment dangers.
Deadline Set for Full Compliance

The CAC made it clear that, beginning on 1 January 2026, no PoS operator will be permitted to conduct business in Nigeria unless they have completed full registration with the CAC.

Security agencies, the Commission added, will enforce nationwide compliance, with unregistered PoS terminals set to be seized or shut down by law enforcement.

“Effective 1 January 2026, no PoS operator will be allowed to operate without CAC registration. Security agencies will enforce nationwide compliance. Unregistered PoS terminals will be seized or shut down by security officials,” the CAC stated in part.

It also warned fintech companies enabling illegal operations that they would be placed on the watchlist and reported to the CBN.

The statement further stressed that all PoS operators are expected to regularise their registration immediately. Compliance, the CAC emphasised, is mandatory.

In a related development, The Nation reported that the Chairman of the House of Representatives’ ad hoc committee on the Economic, Regulatory, and Security Implications of Cryptocurrency Adoption and PoS Operations in Nigeria, Olufemi Bamisile, raised alarms over the growing fraud associated with PoS activities.

Bamisile’s committee had received multiple reports highlighting issues such as unprofiled agents, cloned terminals, anonymous transactions, and weak Know-Your-Customer (KYC) practices, which he warned could lead to significant financial losses, cybercrime, and security breaches for Nigerians.

The committee’s concerns echo the CAC’s stance that urgent action is needed to safeguard the integrity of the financial system and protect Nigerians from potential risks linked to unregulated PoS operations.

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BREAKING NEWS: Gunmen kidnap 18 travellers, 11 rescued

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The police have rescued 11 out of 18 passengers who were kidnapped by gunmen on the Benin–Akure highway near Obarenren village in Ovia North East LGA of Edo State on December 12.....TAP TO CONTINUE READING

The assailants allegedly forced the vehicle to a halt at gunpoint, fired shots and whisked the victims into the bush.

Confirming the development, the Edo State Police Command’s spokesperson, ASP Eno Ikoedem, told Daily Trust that the command received a distress call shortly after the attack and immediately mobilised security operatives.

She said the police, in collaboration with the army, vigilantes and hunters, launched a bush-combing operation to track down the kidnappers and rescue the victims.

“On Sunday, 11 of the kidnapped passengers were successfully rescued, while seven others are still in the custody of their abductors,” she said.
ASP Ikoedem assured that the police were doing everything possible within their capacity to secure the release of the remaining victims.

She called on members of the public to remain calm and cooperate with security agencies, expressing confidence that the remaining abducted passengers would be rescued unhurt.

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Toxic and Biased – Mahdi Shehu Reacts to Tinubu’s ADC Promotion to Brigadier-General

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Political commentator Mahdi Shehu has criticised President Bola Tinubu over the promotion of his Aide-de-Camp (ADC), calling it a breach of military protocol and a threat to professionalism within the Nigerian Armed Forces.....TAP TO CONTINUE READING

In a post on his X handle on Monday, obtained by Politics Nigeria, Shehu accused the President of unilaterally promoting the ADC from colonel to brigadier general, thereby bypassing established military procedures and global best practices.

He described the move as contrary to both standard military protocol and common sense, noting that it disregards the morale and career progression of other officers.

Shehu argued that the promotion has disrupted the normal military hierarchy, placing the ADC above officers who were previously his seniors, including those with more years of service.

“The implication of this toxically biased promotion is that the newly promoted ADC is now a mate to officers who were once his seniors and many years senior to his course mates.

“This means prioritising loyalty to an individual over loyalty to institutions,” he wrote.

He recalled that the same officer had been promoted from lieutenant colonel to colonel just last year without completing the required training, and under normal circumstances, his next promotion to brigadier general would have been due in 2028.

By this promotion, the ADC now outranks all his course mates and other officers from his intake, a move Shehu described as institutional destruction.

Shehu warned that such biased promotions could demoralise officers and foster long-term resentment.

“This kind of avoidable, emotional promotion blunder will create permanent bitterness among officers and weaken discipline,” he said, noting that it could tarnish Nigeria’s military reputation in institutions with regional and global linkages.

He further cautioned that if the ADC were promoted again in 2027, possibly to Major General or even Chief of Army Staff, it could force over 8,000 senior officers across the Army, Navy, and Air Force into premature retirement, given the ADC’s position relative to them.

For Shehu, the promotion represents a “toxic, unilateral assault on professionalism, common sense, and the psychology of those who chose the military as a career,” concluding that “a stitch in time saves nine.”

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Nigeria Police Force Set to Begin Enforcement of Tinted Glass Permit Jan 2

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The Police Headquarters in Abuja, yesterday, disclosed that it has resumed the enforcement of Tinted Glass Permit policy pending the final determination of the matter currently before the court.....TAP TO CONTINUE READING

‘Help save my life, I’ve lost both breasts to cancer’ – Grandmother Nelson Joyce cries out

Recall that a Federal High Court sitting in Warri, Delta State, had on October 2 this year, issued an interim injunction restraining the Inspector General of Police, IGP, and the Nigeria Police Force, NPF, from implementing or enforcing the recently announced Tinted Glass Permit Policy slated to commence on October 6, 2025.

The order followed a motion by John Aikpokpo-Martins, who sought to stop the police from proceeding with the enforcement of the policy, which he described as unlawful and burdensome to citizens.

Delivering the ruling, Justice H. Nganjiwa granted an interim injunction restraining the defendants, the IGP and the NPF, including their officers, agents, or contractors, from enforcing or further implementing the Tinted Glass Permit Policy pending the hearing and determination of the substantive motion before the court.

But Force Public Relations Officer, Benjamin Hundeyin, yesterday, said: “This decision follows a careful review of emerging security concerns and the need to ensure the safety of all citizens.

“It is important to clarify that at no point did the court restrain the NPF from enforcing the provisions of the law regarding the use of tinted glass on vehicles.

“Nonetheless, in the spirit of responsibility, transparency, and public convenience, the Force suspended enforcement to allow motorists ample opportunity to regularise their documentation and complete the registration process without pressure.

“Recent trends, however, reveal a disturbing rise in criminal activities perpetrated with the aid of vehicles fitted with unauthorised tinted glass.

“Some individuals and organised criminal groups have exploited this gap to conceal their identities and facilitate crimes ranging from armed robbery to kidnapping and other violent crimes.

“In view of this, the Nigeria Police Force has found it both necessary and urgent to resume full enforcement as a proactive measure to safeguard our communities.

“Consequently, enforcement of Tinted Glass Permit will resume on January 2, 2026.

“The IGP Kayode Egbetokun, assures the public that the renewed enforcement will be carried out with utmost professionalism, respect for the rights of citizens, and in accordance with extant laws.

“He adds that the Force remains committed to promoting public safety and upholding the rule of law while working collaboratively with all stakeholders to keep Nigeria secure.

“Meanwhile, motorists who require the Tinted Glass Permit are encouraged to apply through the approved channels and ensure that their vehicles comply with legal procedures.”

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