Central Bank of Nigeria Tightens Digital Payments Oversight With Revised PoS Rules
The CBN directed all affected institutions to submit evidence of compliance to the Director of the Payments System Supervision Department via the designated email address no later than July 31, 2026.
The Central Bank of Nigeria (CBN) has issued a revised directive to all participants in the country’s payments ecosystem, updating the implementation timeline and technical requirements for Point-of-Sale (PoS) terminal geo-fencing.
In the circular addressed to Deposit Money Banks, Microfinance Banks, Mobile Money Operators, switching companies, payment service providers, and other licensed operators, the CBN announced changes to the enforcement framework initially introduced under its earlier directive dated August 25, 2025. The original policy covered ISO 20022 payment messaging migration, mandatory geo-tagging of payment terminals, and related compliance measures.
According to the new circular issued on May 29, 2026, the apex bank has approved an adjustment to the PoS geo-fence radius, increasing it from 10 metres to 70 metres. The central bank also extended the enforcement deadline for PoS terminal geo-fencing to August 1, 2026.
The CBN directed all affected institutions to submit evidence of compliance to the Director of the Payments System Supervision Department via the designated email address no later than July 31, 2026. It also instructed financial institutions to resolve outstanding operational issues with the National Central Switch within the stipulated timeline to ensure smooth implementation.
The updated measures are part of ongoing efforts by the Central Bank of Nigeria to strengthen oversight, improve transaction integrity, and enhance the efficiency of the country’s digital payments infrastructure.
