The Corporate Affairs Commission(CAC) says all unregistered Point of Sale (PoS) operators in the country will be shutdown from January 1, 2026.
CAC, in a statement on Saturday, warned that unregistered PoS terminals will be seized and operators shut down by security agencies across the country.
According to the agency, no PoS operator will be allowed to operate without CAC registration, adding that security agencies will enforce nationwide compliance.
CAC noted that it had observed a rising number of PoS operators running without registration, violating CAMA 2020 and CBN Agent Banking Regulations.
It further pointed out that this reckless practice, often enabled by some fintech companies, puts Nigeria’s financial system and citizens’ investments at risk, stressing that it must stop.
“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 regularise immediately. Compliance is mandatory,” the agency stated.
