The Corporate Affairs Commission (CAC) has announced plans to crack down on unregistered point-of-sale (PoS) operators beginning January 1, 2026.

In a statement issued on Saturday, the commission termed the spike in unregistered terminals as a “reckless practice” that breaches the requirements of the Companies and Allied Matters Act (CAMA) of 2020 and the Central Bank of Nigeria (CBN) agent banking laws.

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

According to the statement, no PoS operator will be permitted to operate without first registering with the CAC, as security agencies are expected to ensure nationwide compliance.

“Unregistered PoS terminals will be seized or shut down by security officials,” the commission added.

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

The CAC urged operators to begin registering immediately, emphasizing that compliance is a must.

Since 2024, when it set a deadline for financial technology companies (fintechs) to register their merchants, the commission has been trying to formalise agent bankers’ operations in the country.

The following day, the agency opened a “bulk registration” center for POS operators but then extended the registration deadline when POS agents threatened to sue the commission over forced registration requirements.

Despite the delay, the CAC announced on September 6, 2024, that “a significant number of operators failed to register their businesses” after the deadline expired.

According to the commission, those who refuse to comply with the directive will face the law and may be shut down.