The Central Bank of Nigeria (CBN) has directed all acquirers, processors and Payment Terminal Service Providers (PTSPs) to connect their Point of Sale (PoS) systems to both the Nigeria Inter-Bank Settlement System (NIBSS) and Unified Payment Services Limited (UPSL) within one month.
The directive was issued in a memo dated December 11, 2025, signed by Rakiya Yusuf, Director of the CBN’s Payments System Supervision Department. The move is aimed at strengthening transaction monitoring, improving interoperability, and enhancing the integrity of PoS transactions nationwide.
The order comes as regulators intensify efforts to sanitise Nigeria’s fast-growing PoS ecosystem. The Corporate Affairs Commission (CAC) has also announced plans to begin a nationwide clampdown on unregistered PoS operators from January 1, 2026, as part of measures to curb money laundering and other financial crimes.
The CAC has directed all PoS operators to regularise their businesses before the deadline, warning that operating without registration violates the Companies and Allied Matters Act (CAMA) 2020 and the CBN Agent Banking Regulations.
According to the commission, the rise in unregistered PoS operators, often enabled by some fintech companies, poses serious risks to the financial system and to customers’ funds.
From January 1, 2026, unregistered PoS operators will no longer be allowed to operate. Security agencies have been mandated to enforce compliance nationwide, with unregistered terminals to be seized or shut down.
The CAC also warned that fintech companies facilitating illegal PoS operations will be placed on a watchlist and reported to the CBN.
“All operators are advised to regularise immediately. Compliance is mandatory,” the commission said, reaffirming its commitment to restoring order in the sector and strengthening regulatory oversight to protect users and investors.
