The Corporate Affairs Commission (CAC) has announced a nationwide enforcement action targeting all unregistered Point-of-Sale (POS) operators. Additionally, the directive aims for the CAC to shut down unregistered POS agents nationwide by January 2026. The CAC directs them to register their businesses before January 1, 2026.
In a statement issued by its management, the commission said the move follows a surge in unregistered POS terminals across the country. This activity violates both the Companies and Allied Matters Act (CAMA) 2020 and the Central Bank of Nigeria (CBN) Agent Banking Regulations. Thus, this highlights the urgency for CAC to push this enforcement action by January 2026. They aim to ensure CAC shuts down unregistered POS agents nationwide by January 2026.
According to the CAC, the unregulated expansion of POS operations often enabled by some fintech companies poses serious threats to Nigeria’s financial system. Moreover, it also puts citizens’ investments at risk. By enforcing the registration of POS operators nationwide, CAC aims to shut down unregistered agents. This aims to mitigate these risks.
Effective January 1, 2026, no POS operator will be allowed to operate without CAC registration. The commission confirmed that security agencies have been directed to enforce full compliance nationwide, making the shut down of unregistered POS agents a priority action as instructed by CAC, solidifying the focus on CAC to shut down unregistered POS agents nationwide by January 2026.
“Unregistered POS terminals will be seized or shut down by security officials. FinTech’s enabling illegal activities will be watch listed and reported to the CBN. All operators must regularize their operations immediately,” the statement said.
The CAC noted that the directive is part of a broader effort to sanitize the financial services sector. It aims to strengthen regulatory compliance and protect users and investors. This is why CAC stresses the importance of shutting down non-compliant POS agents.
It added that the enforcement drive also reflects its commitment to promoting transparency. The goal is to safeguard the economy and deliver efficient services in line with its mandate, ensuring all POS agents are registered by January 2026.
