CAC Issues New Requirements for Online Business Name Update after Giving Deadline to PoS Operators
- The Corporate Affairs Commission (CAC) has released a new requirement for businesses wishing to update their information online
- The commission revealed in a notice on social media that the businesses seeking updates must contain certain information
- The development comes a few days after the commission issued a January deadline to PoS operators to register their operations
Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
A few days after the release of the deadline for PoS (point-of-sale) operators to register their businesses or be shut down, the Corporate Affairs Commission (CAC) announced mandatory requirements for all Business name update requests.
According to the commission, every business update request must carry certain information, which it said becomes effective immediately.
Source: Getty Images
CAC new order takes immediate effect
The CAC disclosed this in a notice on its X handle on Wednesday, December 10, 2025, stating that all Business name update requests must contain:
- Date of Birth
- Registered Office Email
- Proprietor’s Email Phone Number for registered Address or Proprietor if different
- Valid Means of Identification
“Please provide these details to ensure smooth processing,” the commission said
According to the commission, the additional details are necessary to ensure smooth processing of update requests.
A prior report by Legit.ng disclosed that the push to formalise Nigeria’s booming agent banking ecosystem entered a tense phase after the Corporate Affairs Commission inaugurated a dedicated centre for the bulk registration of POS operators.
POS agents push back against mandatory registration policy
The initiative came only one day after the dispute between the commission and agent networks had escalated, underscoring the pressure to bring thousands of informal players under regulatory oversight.
The registration centre was designed to accommodate long queues of operators seeking to incorporate their businesses, a requirement the commission said was essential for transparency and accountability in the expanding POS market.
The bulk-registration approach aimed to ease bottlenecks and accelerate processing, especially for operators scattered across states with limited CAC presence.
Although the commission expected a swift response, many POS operators baulked at the mandatory nature of the exercise.
Major agent associations pushed back, arguing that compulsory registration imposed costs and administrative hurdles on small operators already struggling with rising inflation, insecurity and network-related disruptions.
CAC threatens Opay, Palmpay, others
Also, the commission warned that financial technology companies, including Opay, Moniepoint, Palmpay and others, may be reported to the Central Bank of Nigeria (CBN) for allegedly enabling unregistered Point of Sale (PoS) operators across the country.
A previous report by Legit.ng revealed that the commission set January 2026 as the deadline for PoS operators to register their businesses or risk arrest.
CAC to shut down unregistered PoS operators
According to the CAC, any PoS operator that fails to comply with the registration requirement by January will face legal action.
The commission said fintech companies found supporting or enabling unregistered PoS agents will also face consequences.
Source: Twitter
In an enforcement notice issued on Friday, December 5, 2025, the CAC said the warning is part of its ongoing nationwide crackdown on unregistered PoS operators.
CAC warns fintech firms, cites CAMA, CBN regulations
The commission explained that the latest enforcement aligns with the Companies and Allied Matters Act (CAMA) 2020 and the CBN’s Agent Banking Regulations.
It added that it will begin shutting down all unregistered PoS operators from January 1, 2026.
CAC releases names of 15 fake firms operating in Nigeria
Legit.ng earlier reported that the CAC has issued a public warning after uncovering 15 fake companies operating with forged identities across Nigeria.
The alert, released on X, cautions individuals, investors and businesses to stay vigilant when dealing with unfamiliar corporate entities, as the listed names do not exist in the Commission’s official database.
The commission said the notice became necessary after it discovered that the affected entities had been conducting business with falsified registration numbers and misleading documents.
Proofreading by Kola Muhammed, copy editor at Legit.ng.
Source: Legit.ng
