The Corporate Affairs Commission has declared that all Point of Sale operators that are not registered will be shut down beginning on January 1, 2026.

Additionally, the Commission noted that financial technology companies suspected of facilitating illegal activities are currently under surveillance.

In a statement issued on Saturday, the CAC referred to the rise in unregistered PoS terminals as a “dangerous trend.” The CAC indicated that this irresponsible practice contravenes the Companies and Allied Matters Act of 2020 as well as the Central Bank of Nigeria's regulations for agent banking.

The CAC strongly urged all operators to initiate their registration without delay, stressing that adhering to this mandate is compulsory. The Commission cautioned about the repercussions of failing to comply, stating: “Security personnel will confiscate or shut down unregistered PoS terminals. Fintech companies involved in illicit operations will be added to the watchlist and reported to the CBN. This careless practice, often supported by certain fintech firms, jeopardizes Nigeria’s financial system and the investments of its citizens. This must be halted.”

The comprehensive statement, dated December 6, 2025, elaborated on the Commission’s determination: “The CAC has noted the increasing number of PoS operators operating without registration, breaching CAMA 2020 and CBN Agent Banking Regulations. This irresponsible behavior, often backed by some fintech companies, threatens the stability of Nigeria’s financial system and the investments of its citizens. This must cease.”

The statement specified the actions that will take effect from the deadline: “EFFECTIVE 1 JANUARY 2026: 1. No PoS operator will be permitted to function without CAC registration. 2. Law enforcement agencies will implement nationwide compliance. 3. Security officials will confiscate or shut down unregistered PoS terminals. 4. Fintech companies facilitating illegal activities will be listed on the watchlist and reported to the CBN. 5. All operators are urged to regularize immediately. Adherence is compulsory.”