From January unregistered POS terminals ‘ll be seized; fintechs on watchlist

From January unregistered POS terminals ‘ll be seized; fintechs on watchlist – CAC

The Corporate Affairs Commission, CAC, said unregistered point of sale, PoS, operators will be shut down from January 1, 2026. Also, financial technology, Fintechs, firms enabling illegal activities are on the Commission’s watchlist.

CAC made the announcement in a statement on Saturday. It described the surge in unregistered POS terminals as a “reckless practice”.

According to CAC, the reckless practice violates the provisions of the Companies and Allied Matters Act, CAMA, of 2020 and the Central Bank of Nigeria, CBN, agent banking regulations.

CAC advised operators to begin registration immediately. It said compliance is mandatory.

According to the Commission, “Unregistered PoS terminals will be seized or shut down by security officials.

“Fintechs enabling illegal operations will be placed on watchlist and reported to the CBN.

“This reckless practice often enabled by some fintech companies puts Nigeria’s financial system and citizens’ investments at risk. This must stop.”

The full statement, dated December 6, 2025 reads: :The CAC has observed the rising number of PoS operators running without registration, violating CAMA 2020 and CBN Agent Banking Regulations.

“This reckless practice often enabled by some fintech companies puts Nigeria’s financial system and citizens’ investments at risk. This must stop.

“EFFECTIVE 1 JANUARY 2026:

“1. No PoS operator will be allowed to operate without CAC registration.

“2. Security agencies will enforce nationwide compliance.

“3. Unregistered PoS terminals will be seized or shut down by Security Officials.

“4. Fintechs enabling illegal operations will be placed on watchlist and reported to the CBN.

“5. All operators are advised to regularize immediately.

“Compliance is mandatory.”

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