The Corporate Affairs Commission, CAC, announced that unregistered point of sale, PoS, operators will be terminated starting January 1, 2026.
Additionally, financial technology (Fintech) companies facilitating unlawful activities are monitored by the Commission.
CAC released the news in a statement on Saturday. It characterized the increase in unregistered POS terminals as a “dangerous practice.”
CAC states that the negligent action breaches the stipulations of the Companies and Allied Matters Act, CAMA, of 2020 and the agent banking rules of the Central Bank of Nigeria, CBN.
CAC recommended that operators start the registration process without delay. It stated that adherence is required.
The Commission states that “Unregistered PoS terminals will be seized or shut down by security officials.
“Fintechs enabling illegal operations will be placed on a watchlist and reported to the CBN.
“This reckless practice, often enabled by some fintech companies, puts Nigeria’s financial system and citizens’ investments at risk. This must stop.”
The full statement reads, “The CAC has observed the rising number of PoS operators running without registration, violating CAMA 2020 and CBN Agent Banking Regulations.”
“This reckless practice, often enabled by some fintech companies, puts Nigeria’s financial system and citizens’ investments at risk. This must stop.
“EFFECTIVE 1 JANUARY 2026:
“1. No PoS operator will be allowed to operate without CAC registration.
“2. Security agencies will enforce nationwide compliance.
“3. Unregistered PoS terminals will be seized or shut down by security officials.
“4. Fintechs enabling illegal operations will be placed on a watchlist and reported to the CBN.
“5. All operators are advised to regularize immediately.
“Compliance is mandatory.”
