By Muhammad Mamman
The Corporate Affairs Commission (CAC) has announced a sweeping nationwide enforcement drive to shut down all unregistered Point of Sale (POS) operators from 1 January 2026, warning that offenders risk the seizure of their terminals and immediate closure by security agencies.
In a statement issued on Tuesday and signed by the Commission’s Management, the CAC raised alarm over the growing number of POS agents operating illegally in violation of the Companies and Allied Matters Act (CAMA) 2020 and the Central Bank of Nigeria’s Agent Banking Regulations.
According to the Commission, the rising trend—allegedly enabled by certain fintech companies—poses a significant threat to the financial system and leaves citizens’ funds exposed to fraud and abuse.
“This reckless practice must stop,” the statement said.
From 1 January 2026, no POS operator will be permitted to carry out business without valid CAC registration. The Commission confirmed that security agencies across the country have been mandated to enforce full compliance.
As part of the directive, unregistered POS terminals will be confiscated, while fintech companies found aiding unregistered operators will be placed on a regulatory watchlist and reported to the Central Bank of Nigeria.
The CAC urged all operators to regularise their status without delay, stressing that the new compliance regime is compulsory and will be strictly implemented nationwide.
