The Central Bank of Nigeria (CBN) has directed that all Point of Sale (PoS) terminals in the country be geo-tagged within the next 60 days as part of measures to check fraud and strengthen oversight of the fast-growing sector.
In a circular issued to operators, including Moniepoint, OPay, PalmPay, commercial banks, and other licensed providers, the CBN insisted that every existing PoS device must be registered with its exact GPS coordinates before the October 20, 2025, compliance deadline.
New devices, it added, must be geo-tagged prior to activation.
According to the apex bank, it is also part of a broader plan to modernise Nigeria’s payment system, improve consumer protection and ensure that digital financial transactions are secure and fully traceable.
“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 CBN said.
The CBN explained that the move will help eliminate “ghost” or cloned terminals and enable real-time monitoring of transactions
“Newly deployed PoS devices will now have native geolocation features and double-frequency GPS receivers for accurate tracking. Terminals that fail to comply with the October 20, 2025, deadline will no longer be allowed to operate.
“Each PoS device must capture and transmit its location at the start of every transaction, with activity beyond a 10-meter radius of the registered merchant address automatically flagged.
“Licensed operators, including major banks and fintech companies like Moniepoint, OPay, and PalmPay, are expected to register each terminal with a payment aggregator and provide precise merchant coordinates”,CBN stated.
The apex bank warned that any terminal operating outside its registered location would be deactivated, with Payment Terminal Service Providers (PTSPs) and mobile money companies held responsible for ensuring compliance across their networks.
