THE Central Bank of Nigeria (CBN) has ordered that all Point of Sale (PoS) terminals across the country be geo-tagged within the next 60 days as part of efforts to strengthen oversight of digital payments and curb fraudulent transactions.
In a statement issued on August 26, 2025, the apex bank said the measure is designed to modernise Nigeria’s payment ecosystem, improve consumer protection, and ensure that transactions are both secure and traceable.
Under the new directive, each PoS device must capture and transmit its geolocation at the start of every transaction.
Any terminal operating beyond a 10-meter radius of its registered merchant address will be flagged, while non-compliant devices will be deactivated after the October 20 deadline.
According to the CBN, the initiative will eliminate “ghost” or cloned terminals and allow real-time monitoring of payment activities.
Newly deployed PoS machines are now required to have in-built geolocation technology and dual-frequency GPS receivers for accuracy.
Licensed operators, including banks and fintech firms such as Moniepoint, OPay, and PalmPay, must register all PoS terminals with a payment aggregator and provide exact merchant coordinates to regulators.
The central bank stressed that the enforcement is a key step toward enhancing trust in Nigeria’s fast-growing digital financial services sector.