The Corporate Affairs Commission, CAC, has threatened to shut down unregistered Point of Sale, POS terminals from January 1, 2026.
CAC in the threat on its website also threatened to placed financial technology, Fintech firms, found enabling unregistered POS terminals on watchlist.
Besides, it said that such fintechs would be reported to the Central Bank of Nigeria.
The commission added that practice violates the provisions of the Companies and Allied Matters Act, CAMA, of 2020 and the Central Bank of Nigeria, CBN, agent banking regulations.
In addition it urged operators to begin registration immediately saying security agencies from January 1, 2026 would enforce compliance.
The full statement, dated December 6, 2025 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:
“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 watchlist and reported to the CBN.
“5. All operators are advised to regularize immediately.
“Compliance is mandatory.”
