The Central Bank of Nigeria (CBN) has mandated that all Point of Sale (PoS) terminals nationwide must be geo-tagged within a span of 60 days.
This initiative aims to combat fraud and enhance regulation of the rapidly expanding PoS sector.
The order, which impacts licensed operators such as Moniepoint, OPay, PalmPay, and commercial banks, stipulates that every PoS device currently in circulation must be registered with its precise GPS coordinates. Additionally, new PoS devices are required to be geo-tagged prior to activation.
The CBN announced that any device failing to comply with the requirements by the October 20, 2025 deadline will face deactivation.
“This initiative is intended to prevent fraud, eliminate the use of cloned or ‘ghost’ terminals, and facilitate real-time transaction tracking,” the CBN indicated in a circular issued to operators.
According to the new regulation, all active PoS devices must be equipped with integrated GPS systems and connected to the National Central Switch, which will oversee their usage through a specific software development kit (SDK).
Merchants will be restricted to processing payments within a 10-meter radius of their registered business locations.
The CBN cautioned that any device operating beyond its registered location will be deactivated.
Operators including Payment Terminal Service Providers (PTSPs) and mobile money companies will be responsible for ensuring compliance across their networks.