CAC to shut down unregistered POS operators nationwide from January 1

The Corporate Affairs Commission has announced that it will begin a nationwide enforcement exercise on January 1, 2026, to shut down all unregistered Point of Sale operators.

The commission disclosed this in a public notice signed by its management, warning that security agencies will confiscate unregistered terminals and seal off non-compliant operators across the country.

According to the commission, the surge of operators violating the Companies and Allied Matters Act 2020 and the Central Bank of Nigeria Agent Banking Regulations poses growing risks to the financial system and citizens’ investments. The trend, it added, is often enabled by certain fintech companies.

The commission stressed that effective January 1, no operator will be permitted to run without CAC registration. Security agencies have been directed to enforce full compliance, including seizing or shutting down unregistered terminals.

Fintech companies that facilitate unregistered operations will face sanctions, including placement on a regulatory watchlist and reports to the Central Bank of Nigeria.

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The CAC advised all operators to regularize their business status immediately, stating that compliance is mandatory to safeguard financial integrity and strengthen public confidence in the expanding agent banking sector.

Source: X | Imranmudhz