CAC to Shut Down All Unregistered POS Agents from January 1

CAC to Shut Down All Unregistered PoS Agents from January 1 Dec 6, 2025 — by Starnews NG in News The Corporate Affairs Commission (CAC) has announced a nationwide crackdown on unregistered Point of Sale (PoS) operators, declaring that all illegal terminals will be seized or shut down beginning January 1, 2026. In a public notice issued on Saturday, the Commission said it has observed a troubling surge in PoS businesses operating outside the law, in violation of the Companies and Allied Matters Act (CAMA) 2020 and the Central Bank of Nigeria (CBN) Agent Banking Regulations. According to the CAC, many of these unregistered operators are being aided by certain fintech companies, a development it described as “reckless” and threatening to the stability of the country’s financial system. The Commission warned that the unchecked growth of unlicensed PoS agents exposes Nigerians to fraud, financial losses, and potential national security breaches. “The CAC has observed the rising number of PoS operators running without registration, violating CAMA 2020 and CBN Agent Banking Regulations,” the statement read. “This reckless practice, often enabled by some fintech companies, puts Nigeria’s financial system and citizens’ investments at risk. This must stop.” The Commission said security agencies have been directed to enforce full compliance beginning January 1, 2026. Under the directive: No PoS operator will be allowed to operate without valid CAC registration. Unregistered PoS terminals will be seized or shut down. Fintech companies enabling unregistered operators will be placed on a watchlist and reported to the CBN. “All operators are advised to regularize immediately. Compliance is mandatory,” the notice warned. The enforcement action marks one of the most aggressive regulatory moves yet targeting Nigeria’s rapidly expanding PoS industry, which has become a major driver of cash-in-cash-out transactions across the country.