The Corporate Affairs Commission has announced that all unregistered Point of Sale operators will be shut down starting from January 1, 2026.

Furthermore, the Commission stated that financial technology firms found to be enabling illegal activities are currently on its watchlist.

The CAC made this announcement in a statement released on Saturday, where it described the surge in unregistered PoS terminals as a “reckless practice.” According to the CAC, this reckless practice violates the provisions of the Companies and Allied Matters Act of 2020 and the Central Bank of Nigeria agent banking regulations.

The CAC strongly advised all operators to begin registration immediately, emphasizing that compliance with the mandate is mandatory. The Commission warned about the consequences of non-compliance, stating: “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. This reckless practice often enabled by some fintech companies puts Nigeria’s financial system and citizens’ investments at risk. This must stop.”

The full statement, dated December 6, 2025, detailed the Commission’s resolve: “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.”

The statement outlined the measures taking effect from the deadline: “EFFECTIVE 1 JANUARY 2026: 1. No PoS operator will be allowed to operate without CAC registration. 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.”