Thursday, August 28, 2025 - Central Bank of Nigeria (CBN) has issued a directive mandating that all Point of Sale (PoS) terminals in the country be geo-tagged within 60 days.
This is in a bid to curb fraud and improve oversight of the
fast-growing PoS industry.
The directive, which affects licensed operators including
Moniepoint, OPay, PalmPay, and commercial banks, requires that every PoS device
currently in circulation be registered with its exact GPS coordinates. New PoS
devices must also be geo-tagged before activation.
The CBN said any device that fails to meet the requirement
by the October 20, 2025 compliance deadline will be deactivated.
“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 in a circular released to operators.
Under the new rule, all existing PoS devices must be updated
with built-in GPS systems and linked to the National Central Switch, which will
monitor their usage through a special software development kit (SDK). Merchants
will only be able to process payments within a 10-metre radius of their
registered business addresses.
The CBN warned that any device found operating outside of
its registered location will be shut down.
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