A sweeping nationwide crackdown on unregistered Point-of-Sale (POS) operators will begin on 1 January 2026, the Corporate Affairs Commission has announced, warning that non-compliant terminals will be seized and operators shut down.
The Commission said the surge in unregistered POS businesses had become a “reckless practice” that violates the Companies and Allied Matters Act (CAMA) 2020 as well as regulations guiding agent banking issued by the Central Bank of Nigeria (CBN).
In a statement released on Saturday, the CAC said the rise of unregistered operators—often enabled by some financial technology firms—poses significant risks to the financial system and threatens citizens’ investments. It warned that fintech companies facilitating unlawful operations would be placed on a watchlist and formally reported to the CBN.
Security agencies, according to the Commission, have been directed to enforce compliance nationwide. From the new year, no POS operator will be permitted to conduct business without formal registration with the CAC.
The agency stressed that all unregistered terminals will be seized or shut down, adding that the enforcement forms part of a broader effort to strengthen oversight of Nigeria’s rapidly expanding digital payments ecosystem.
The statement urged operators to take immediate steps to regularise their businesses to avoid disruptions. “Compliance is mandatory,” the Commission emphasised, reiterating that violations will trigger enforcement actions.
The development comes amid renewed government efforts to curb POS fraud, regulate agent banking networks and address concerns over unlicensed operators contributing to financial crimes and market instability.
