Episode Transcript
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Speaker 1 (00:02):
The Callperate Affairs Commission KAK has threatened a fresh clamp
down on unregistered point of sale POSS operators in Nigeria
from first January twenty twenty six. The Commission said it
observed a rising number of POSS operators running without registration,
violating KAMA twenty twenty CBN agent banking regulations. In a
(00:25):
statement on Saturday, the agency said all PUSS must be
duly registered with the Commission or face immediate shutdown. It
warned that no POSS operator will be allowed to operate
without CACK registration, adding that security agencies will enforce nationwide compliance.
The statement further pointed out that this reckless practice, often
(00:46):
enabled by some fintech companies, puts Nigeria's financial system and
citizens investments at risk, stressing that it must stop. Unregistered
PUS terminals will be seized or shut down by security officials.
Fintouches enabling illegal operations will be placed on a watch
list and reported to the CBN. All operators are advised
(01:09):
to regularize immediately. Compliance is mandatory. The statement said. All
PUSS agents and businesses are urged to regularize their registration
immediately to comply with the mandatory requirement. This initiative, backed
by reports of increasing pross fraud and misuse, aims to
secure the financial sector and protect consumers investments,
The Callperate Affairs Commission KAK has threatened a fresh clamp
down on unregistered point of sale POSS operators in Nigeria
from first January twenty twenty six. The Commission said it
observed a rising number of POSS operators running without registration,
violating KAMA twenty twenty CBN agent banking regulations. In a
(00:25):
statement on Saturday, the agency said all PUSS must be
duly registered with the Commission or face immediate shutdown. It
warned that no POSS operator will be allowed to operate
without CACK registration, adding that security agencies will enforce nationwide compliance.
The statement further pointed out that this reckless practice, often
(00:46):
enabled by some fintech companies, puts Nigeria's financial system and
citizens investments at risk, stressing that it must stop. Unregistered
PUS terminals will be seized or shut down by security officials.
Fintouches enabling illegal operations will be placed on a watch
list and reported to the CBN. All operators are advised
(01:09):
to regularize immediately. Compliance is mandatory. The statement said. All
PUSS agents and businesses are urged to regularize their registration
immediately to comply with the mandatory requirement. This initiative, backed
by reports of increasing pross fraud and misuse, aims to
secure the financial sector and protect consumers investments,
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