CAC To Shut Down Illegal POS Operators From January 2026
By SANI BATURE
THE Corporate Affairs Commission (CAC) has announced a crackdown on unregistered Point of Sale (POS) operators across Nigeria, effective 1 January 2026. The move comes after a rise in POS operators functioning without proper registration, violating CAMA 2020 and CBN Agent Banking Regulations.
In a statement on Saturday, CAC warned that all POS operators must be registered with the Commission or face immediate shutdown. Security agencies will enforce compliance nationwide, with unregistered terminals set to be seized or deactivated.
The Commission also cautioned fintech companies facilitating illegal POS operations, noting they will be monitored, reported to the Central Bank of Nigeria (CBN), and could face sanctions. Operators are urged to regularize their status immediately to avoid penalties.
