Business News
CAC to shut down unregistered POS operators January 2026
The Corporate Affairs Commission has warned that it will launch a fresh clampdown on Point of Sale operators who fail to register their businesses by 1st January 2026.
The Commission said it has noticed a growing number of POS agents operating without registration, which goes against the provisions of CAMA 2020 and the Central Bank’s Agent Banking Regulations.
In a statement issued on Saturday, the CAC said all POS businesses must be properly registered with the Commission or risk being shut down immediately.
It added that no operator will be allowed to function without CAC registration, and security agencies will be deployed nationwide to enforce full compliance.
The statement further pointed out that this reckless practice, often enabled by some fintech companies, puts Nigeria’s financial system and citizens’ investments at risk, stressing that it must stop.
“Unregistered POS terminals will be seized or shut down by security officials.
“Fintechs enabling illegal operations will be placed on a watchlist and reported to the CBN. All operators are advised to regularize immediately. Compliance is mandatory,” the statement said.
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