From January unregistered POS terminals will be seized and fintechs will be on watchlist – CAC

The Corporate Affairs Commission (CAC) has announced that all unregistered Point-of-Sale (PoS) operators in Nigeria will be shut down effective January 1, 2026. The Commission also disclosed that financial technology (fintech) firms enabling illegal transactions are now under strict surveillance.

In a statement released on Saturday, December 6, the CAC described the growing number of unregistered PoS terminals as a “reckless practice” that violates the Companies and Allied Matters Act (CAMA) 2020 as well as Central Bank of Nigeria (CBN) agent banking regulations.

The Commission advised all operators to begin the registration process immediately, stressing that compliance is compulsory.

According to the CAC:

“Unregistered PoS terminals will be seized or shut down by security officials.”

“Fintechs enabling illegal operations will be placed on watchlist and reported to the CBN.”

The Commission warned that the proliferation of unregistered PoS operators, often aided by some fintech platforms, exposes Nigeria’s financial system and citizens’ funds to significant risks.

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 January 1, 2026:

– No PoS operator will be allowed to operate without CAC registration.

-Security agencies will enforce compliance nationwide.

-Unregistered PoS terminals will be seized or shut down.

-Fintech companies enabling illegal operations will be watchlisted and reported to the CBN.

-All operators must regularize their operations immediately.

“Compliance is mandatory,” the statement concluded.