The commission said any fintech firm found facilitating the activities of unregistered POS agents will be reported to the Central Bank of Nigeria (CBN) for appropriate sanctions.
This was contained in an enforcement notice issued on Friday, as the CAC intensifies its nationwide clampdown on unregistered POS businesses. The action, it said, is in line with the Companies and Allied Matters Act (CAMA) 2020 and the CBN’s Agent Banking Regulations.
According to the notice, the CAC will begin shutting down all unregistered POS operators from January 1, 2026.
“This reckless practice, often enabled by some fintech companies, puts Nigeria’s financial system and citizens’ investments at risk. This must stop,” the commission stated.
The CAC emphasized that any fintech found supporting unregistered operators will be placed under monitoring and reported to the apex bank.
“Fintechs enabling unregistered operators will be placed on a watchlist and reported to the CBN,” CAC added.
The commission urged all POS operators to register immediately, insisting that compliance is mandatory ahead of the enforcement deadline.
Meanwhile, the Association of Mobile Money and Bank Agents in Nigeria (AMMBAN) has not yet commented on the new enforcement deadline.