The Corporate Affairs Commission (CAC) has warned that a fresh crackdown on unregistered Point of Sale (POS) operators in Nigeria will commence from 1st January 2026.
The Commission noted a growing number of POS operators functioning without registration, in violation of CAMA 2020 and CBN Agent Banking Regulations.
In a statement on Saturday, the agency emphasized that all PoS must be properly registered with the commission or risk immediate shutdown.
It added that no POS operator would be permitted to operate without CAC registration, with security agencies tasked to enforce compliance nationwide.
The statement highlighted that this reckless practice, often supported by some fintech companies, jeopardizes Nigeria’s financial system and citizens’ investments and must be stopped.
“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. All operators are advised to regularize immediately. Compliance is mandatory,” the statement concluded.