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.
Operators such as Payment Terminal Service Providers (PTSPs) and mobile money companies will be held accountable for ensuring compliance across their networks.
