The Corporate Affairs Commission has announced that all Point-of-Sale (PoS) operators in Nigeria who fail to register with the Commission by January 1, 2026, will be shut down. The agency also revealed that financial technology companies found facilitating unlawful transactions will be placed under close monitoring.
In a statement issued on Saturday, December 6, the Commission described the surge in unregistered PoS terminals as a “reckless” violation of the Companies and Allied Matters Act (CAMA) 2020 and the Central Bank of Nigeria agent banking guidelines.
The CAC urged operators to begin registration immediately, stressing that compliance is non-negotiable.
According to the Commission:
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Any PoS terminal operating without CAC registration will be seized or shut down by security agencies.
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Fintech firms enabling unregistered or illegal PoS activities will be placed on a watchlist and reported to the CBN.
The agency warned that the continued proliferation of unregistered PoS operators—sometimes aided by certain fintech platforms—poses major risks to the financial system and endangers citizens’ funds.
The full statement dated December 6, 2025, noted:
“The CAC has observed an increase in PoS operators functioning without registration, contrary to CAMA 2020 and CBN Agent Banking Regulations. This unsafe practice, often supported by some fintech companies, threatens Nigeria’s financial system and the investments of its citizens. It must stop.”
Effective January 1, 2026:
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Only registered PoS operators will be allowed to operate.
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Nationwide enforcement will be carried out by security agencies.
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Non-compliant PoS terminals will be confiscated or shut down.
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Fintech companies involved in enabling illegal operations will be watchlisted and reported to the CBN.
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All operators must regularise their status immediately.
“Compliance is mandatory,” the CAC concluded.
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