Central Bank of Nigeria (CBN) has issued a directive mandating that all Point of Sale (PoS) terminals across the country be fitted with GPS tracking systems within the next 60 days.
The apex bank said the move is aimed at curbing fraud and strengthening oversight of the rapidly expanding PoS industry, which has become a key driver of financial inclusion in Nigeria.
In a circular released to licensed operators—including Moniepoint, OPay, PalmPay, and commercial banks—the CBN stated that all existing PoS devices must be registered with precise GPS coordinates and linked to the National Central Switch. New devices must be geo-tagged before activation.
“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 circular read.
Under the new regulation, merchants will only be allowed to process payments within a 10-metre radius of their registered business addresses. Devices found operating outside of their designated locations will be deactivated.
The CBN warned that any PoS terminal not geo-tagged by the compliance deadline of October 20, 2025, will be barred from processing transactions.
Payment Terminal Service Providers (PTSPs) and mobile money operators are expected to ensure full compliance across their networks.
The directive is part of broader efforts by the CBN to modernize Nigeria’s payment infrastructure and enhance consumer protection in the digital finance space
