The Central Bank of Nigeria (CBN) has ordered all Point of Sale (PoS) terminals in the country to undergo geo-tagging within 60 days. The directive aims to improve oversight of the fast-growing PoS market and curb fraud.
Moniepoint, OPay, PalmPay, commercial banks, and other licensed operators must register PoS devices with exact GPS coordinates. Operators must also geo-tag new devices before activating them.
The apex bank warned it would deactivate any device that fails to comply by the October 20, 2025 deadline.
“The move is meant to curb fraud, stop the use of cloned or ‘ghost’ terminals, and make it easier to track transactions in real time,” the CBN stated.
Fraudsters have used PoS services to swindle customers and even collect ransom payments. The directive blocks such abuse by ensuring each terminal links to a confirmed location.
The new rules require all PoS devices to connect to the National Central Switch. Operators must install a special software development kit (SDK) and upgrade terminals with GPS systems. Only businesses operating within ten meters of their registered addresses can accept payments.
The CBN warned it will shut down any terminal found operating outside its registered location. The CBN will hold operators, including mobile money providers and Payment Terminal Service Providers (PTSPs), accountable for compliance.
PoS services have grown rapidly, with about 1.5 million agents nationwide by 2023; roughly one agent for every 80 Nigerians.
“The increasing number of PoS agents and terminals is a major reason why the CBN is introducing new directives for their operation,” the regulator added.
This latest order follows earlier measures. In 2024, the CBN required authorized Payment Terminal Service Aggregators (PTSA) to process all PoS transactions. The CBN also mandated operators to register devices with the Corporate Affairs Commission (CAC) to boost transparency.
