Many POS operators registered their businesses last year after the government’s mandate. Starting in 2026, these businesses will have to file their first annual returns with the Corporate Affairs Commission (CAC).
Unfortunately, many POS agents don’t even know this requirement exists — and that ignorance can lead to penalties, inactive status, or losing your business name.
Here are 5 important things you must know about CAC annual returns if you run a POS business.
-
Annual Returns Are a Legal Requirement
Annual returns are not optional. Every registered business — including POS operators — must submit them to the CAC once a year.
It’s the law, and failing to comply attracts fines.
-
It’s Not a Tax
Many people confuse annual returns with tax filing. They are completely different:
Annual returns are simply a way to confirm to CAC that your business is still active.
They have nothing to do with your earnings or paying income tax.
-
Your First Filing is Due in 2026
If you registered in 2024, your first annual returns are due in 2026.
The first deadline is 18 months from registration.
After that, you must file every 12 months.
Example:
Registered: March 2024
First filing deadline: September 2025 (but for most 2024 registrations, the first CAC-wide call-up is in January 2026).
-
Penalties Can Be Expensive
For business names (which most POS operators have), the late filing penalty is ₦5,000 per year overdue, in addition to the normal filing fee.
If you delay for several years, the total can become much higher than the actual filing fee.
-
Using an Accredited CAC Agent Saves Time
While you can file yourself through the CAC portal, many POS operators prefer to use an accredited agent because:
No need to struggle with the portal or visit CAC offices.
No risk of errors that cause rejection.
Fast, stress-free process.
Our Fee:
Annual returns filing: ₦3,000 CAC fee + ₦5,000 agency fee (total ₦7,000)
Penalties (if late) are added to the CAC fee.
Final Word
Filing your annual returns is not just about avoiding penalties — it’s about protecting your POS business name and staying legally active.
Don’t wait until the last minute.
Let’s file it for you.
Send a WhatsApp message to 08155554892 and we’ll get it done without stress. Contact us
Adebayo Oluwole is a seasoned chartered accountant and a member of Chartered Institute of Taxation of Nigeria with over twenty years of experience. His expertise cuts across accounting, auditing and taxation. He has helped hundreds of individuals translate their dreams into reality by offering them pre and post registration services. His focus is to help SMEs grow in the marketplace.
Your Trusted Partner for Business Compliance
We assist businesses with registration, filing of annual returns, preparation of statements of affairs or audited financial statements, filing of tax returns, and processing of Tax Clearance Certificates.
Chat with us on WhatsAppFast response • Nationwide service • Compliance-focused