Lagos, Nigeria – Nigeria’s agent banking ecosystem is entering a new phase as the Central Bank of Nigeria introduces updated guidelines that standardise Point of Sale operations, restrict agents to a single financial institution, and aim to reduce fraud within the agent banking network.
Okay News reports that the new rules, effective April 1, 2026, require PoS agents to work with only one financial institution. Previously, many agents operated multiple terminals from different providers to manage downtime or compare service quality. Agents must now operate with dedicated accounts, comply with transaction limits, and use registered devices from approved locations.
Over the past decade, agent banking has expanded rapidly across both urban centres and underserved communities, filling gaps left by traditional banking infrastructure. However, as adoption increased, so did operational challenges including transaction failures, fraud risks, and inconsistent service delivery.
With agents now restricted to one provider, the decision has become more direct. A platform that processes transactions consistently gives agents the ability to complete more payments and maintain steady earnings throughout the day. Faster processing allows agents to serve more customers, especially in high-traffic locations where delays can lead to lost business.
OPay’s scale and existing agent network position it to offer operational support at scale, allowing agents to focus on running their business. This Point of Sale agent policy shift favors providers built around system stability and transaction efficiency.
