CAC has ordered all point-of-sale (PoS) operators to register their businesses before January 1, 2026, warning that unregistered terminals will be seized. The move represents the government’s most assertive effort yet to formalize an industry that has expanded rapidly but unevenly, putting renewed pressure on fintech companies to strengthen compliance across their agent networks.
In a public notice dated December 6, 2025, the CAC highlighted “the rising number of PoS operators running without registration,” calling the trend a violation of the Companies and Allied Matters Act (CAMA 2020) and the Central Bank of Nigeria’s 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,” the notice said.
“Effective 1 January 2026, no PoS operator will be allowed to operate without CAC registration,” the Commission added. The directive builds on a regulatory push that began in April 2024, when the Nigerian government mandated that all PoS agents register with the CAC to improve transparency and curb fraud.
The crackdown comes amid growing regulatory concern over the size and vulnerability of Nigeria’s agent banking ecosystem, which now boasts an estimated 1.9 million PoS agents. According to the Nigeria Inter-Bank Settlement System (NIBSS), PoS terminals processed ₦10.51 trillion in the first quarter of 2025, a 301.67% increase from the previous year.
With PoS terminals serving as the primary cash access point for millions of Nigerians, the CAC’s action signals a coordinated effort to close compliance gaps. In August, the Central Bank of Nigeria (CBN) had already restricted all PoS terminals to a 10-metre radius from their registered address.
For the first time, the CAC is directly targeting PoS operators, an area previously overseen mainly by the CBN and the fintech companies deploying the terminals. The Commission said security agencies would enforce compliance nationwide, and unregistered terminals would be seized or shut down. Fintech firms found enabling unregistered operators will be reported to the CBN and added to a watchlist.
The directive intensifies scrutiny on fintechs, many of which have aggressively expanded their agent networks over the past five years. As of March 2025, there were 8.36 million registered PoS terminals, with 5.90 million active or deployed. The rapid growth of fintech-led networks has sparked ongoing concerns over fraud, weak KYC practices, and insufficient oversight.
