Eshiorameh Sebastian
The Corporate Affairs Commission has announced a major nationwide crackdown on unregistered Point of Sale operators, with a complete shutdown of illegal terminals set to commence on 1 January 2026.
The Commission in a public notice issued on Saturday and obtained by Spear News, stated that it has “observed a dangerous rise in the number of PoS agents operating without proper business registration, in clear violation of the Companies and Allied Matters Act (CAMA) 2020 and the Central Bank of Nigeria’s Agent Banking Guidelines”.
In a public notice, the CAC warned that this “reckless practice, often enabled by some financial technology companies, poses a significant risk to Nigeria’s financial system and puts citizens’ investments in jeopardy”.
Consequently, the Commission declared that the practice must stop.
From the first day of 2026, no PoS operator will be permitted to conduct business without a valid CAC registration.
To enforce this mandate, security agencies will be deployed nationwide to ensure strict compliance. Any unregistered PoS terminal found in operation after the deadline will be immediately seized or shut down by security officials.
The notice also included a stern warning for fintech companies that facilitate these illegal operations. Such companies will be placed on a regulatory watchlist and reported to the Central Bank of Nigeria for further sanctions.
The CAC has urged all non-compliant operators to use the intervening period to regularise their status with the Commission, emphasising that compliance is not optional but mandatory. The notice was signed by the Management as part of the Commission’s commitment to prompt and efficient service.
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