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CAC Orders Shutdown of Unregistered PoS Terminals
Posted by Gistsnaija.
on 6 December, 2025 |
0
Corporate Affairs Commission issues stern order: all unregistered Point-of-Sale (PoS) operators in Nigeria must stop operations or be shut down by January 1, 2026.
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In a statement released on Saturday, December 6, 2025, the Corporate Affairs Commission (CAC) described the proliferation of unregistered PoS terminals as a “reckless practice” that contravenes the Companies and Allied Matters Act (CAMA) 2020 and the Central Bank of Nigeria (CBN) agent banking regulations.
The Commission warned that operators who fail to regularize their businesses will face enforcement action from security agencies and that terminals operating without CAC registration will be seized or shut down. The CAC also disclosed that fintech firms that enable illegal transactions are now under strict surveillance and will be placed on a watchlist.
According to the CAC statement:
“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.”
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The Commission argued that the unchecked growth of unregistered PoS operators — sometimes aided by certain fintech platforms — exposes Nigeria’s financial system and citizens’ funds to significant risk. The full statement, dated December 6, 2025, reiterated that “this reckless practice…puts Nigeria’s financial system and citizens’ investments at risk. This must stop.”
Effective January 1, 2026, the CAC listed the following measures:
- No PoS operator will be allowed to operate without CAC registration.
- Security agencies will enforce compliance nationwide.
- Unregistered PoS terminals will be seized or shut down.
- Fintech companies enabling illegal operations will be watchlisted and reported to the Central Bank of Nigeria.
- All operators must regularize their operations immediately — “Compliance is mandatory,” the statement concluded.
Operators and fintech partners are advised to begin the registration process immediately and ensure their agent and onboarding processes meet both CAC and CBN requirements. Failure to comply risks losing devices, business interruption, and potential regulatory sanctions.
External Source:
BBC
What do you think about the CAC’s directive and its implications for PoS operators and fintechs in Nigeria? Share your thoughts in the comments below.
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