CBN Orders Geo-Tagging Of PoS Terminals In Nigeria

The Central Bank of Nigeria (CBN) has ordered that every Point of Sale (PoS) terminal in the country be fitted with geo-tagging technology within the next 60 days.

In a circular dated August 26, 2025, the apex bank said the policy is aimed at tightening security around digital payments, cutting down on fraud, and giving regulators stronger oversight of the fast-growing payment industry.

According to the CBN, the plan is part of ongoing reforms to modernize Nigeria’s payment system, safeguard consumers, and make digital transactions safer and easier to trace.

“This initiative is designed to ensure that all PoS terminals are traceable and that transactions are secure. Terminals operating outside their registered location will be flagged, and non-compliant devices will be deactivated,” the statement read.

The bank added that the rule would help eliminate cloned or unregistered devices while enabling real-time tracking of all transactions.

Going forward, newly deployed PoS machines will be equipped with built-in geolocation systems and dual-frequency GPS to improve accuracy.

Terminals that fail to meet the October 20, 2025, deadline will be barred from operation.

Under the new guideline, every PoS device must transmit its location each time a transaction begins, with activity beyond 10 meters from its registered merchant address automatically flagged.

Licensed operators, including commercial banks and major fintechs such as OPay, PalmPay, and Moniepoint, have also been directed to register all devices through approved payment aggregators and provide exact merchant coordinates.

KanyiDaily recalls that the CBN previously dismissed reports suggesting that it has introduced N5,000 and N10,000 banknotes, calling them false and misleading.