The Central Bank of Nigeria (CBN) has rolled out a new directive that will drastically change the way Point of Sale (PoS) terminals are used across the country.
In a circular issued on Monday seen by Okay.ng, the regulator ordered all licensed operators – including Moniepoint, OPay, PalmPay, banks, and other Payment Terminal Service Providers (PTSPs) – to geo-tag every PoS device within the next 60 days.
Under the new rule, every active PoS machine must be registered with its exact GPS coordinates, with transactions restricted to within 10 metres of the merchant’s registered business address.
According to the CBN, the move is designed to combat fraud, cloned or “ghost” terminals, and unauthorised PoS activity, while also enabling real-time monitoring of transactions through the National Central Switch.
“Merchants will only be allowed to process payments at their registered address. Any device that is not geo-tagged within the stipulated deadline will be shut down,” the circular stated.
How It Will Work
- Existing terminals must be upgraded with built-in GPS features and integrated with a special software development kit (SDK).
- New PoS devices will not be activated unless geo-tagged before deployment.
- Operators, including PTSPs and mobile money companies, will be responsible for ensuring that devices in their networks comply.
Timeline and Scope
The CBN has set October 20, 2025, as the start date for enforcement, leaving operators just two months to geo-tag what could be over 4 million active PoS devices nationwide.
