In a public notice released on Saturday, the Commission said it has observed an alarming rise in PoS businesses operating outside the law, in clear violation of the Companies and Allied Matters Act (CAMA) 2020 and the Central Bank of Nigeria (CBN) Agent Banking Regulations.
The Corporate Affairs Commission (CAC) has issued warning to thousands of unregistered Point of Sale (PoS) operators across Nigeria, declaring that it will begin a nationwide shutdown of all illegal operations starting January 1, 2026.
In a public notice released on Saturday, the Commission said it has observed an alarming rise in PoS businesses operating outside the law, in clear 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 unlicensed operators are being enabled by certain fintech companies, a trend it described as reckless and dangerous to the stability of Nigeria’s financial system.
The Commission warned that such unregulated activities expose citizens to fraud, financial losses and undermine national security.
The statement read, "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: PoS operator will be allowed to operate without CAC registration.Security agencies will enforce nationwide compliance.
"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.
"All operators are advised to regularize immediately. Compliance is mandatory," CAC added.