CAC to Sanction Unregistered POS Operators From January 2026

Nigeria’s Corporate Affairs Commission has warned that unregistered POS operators will face strict enforcement from January, calling the growing number of unlicensed terminals a threat to the financial system. The Commission released the notice in a statement on Saturday and described the trend as a violation of both CAMA 2020 and existing agent banking rules issued by the Central Bank.

The CAC said some fintech firms encourage this behaviour, which exposes customers and the wider economy to unnecessary risk. “This reckless practice often enabled by some fintech companies puts Nigeria’s financial system and citizens’ investments at risk. This must stop,” the statement read.

However, because the clampdown is tied to security checks, the Commission confirmed that law-enforcement agencies will carry out nationwide compliance efforts.

Deadline Pressure Builds for POS Operators

The Commission explained that any POS operators without valid registration will have their terminals seized or closed by officers in the field. It further warned that fintechs supporting the unregistered businesses would end up on a regulatory watchlist and be reported to the Central Bank.

To ease the process, the CAC created a centre for bulk registration and invited operators to regularise their businesses. Yet the announcement sparked tension, as several POS agents threatened legal action over the mandatory requirement. The Commission later extended the deadline, although it insisted that compliance remained compulsory.

Even with the extension, the CAC noted on 6 September 2024 that “a significant number of operators failed to register their businesses” within the timeframe. The agency said those who ignored the directive will now face sanctions and may be shut down entirely.

The Commission maintains that the registration push is essential to protecting customers, preventing fraud and ensuring a cleaner digital payments environment for all POS operators.