CBN ORDERS GEO-TAGGING OF ALL PoS TERMINALS TO CURB FRAUD, SETS OCTOBER DEADLINE
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By: Sefiu Ajape
The Central Bank of Nigeria has ordered that all Point of Sale (PoS) terminals nationwide be geo-tagged within 60 days as part of efforts to combat fraud and improve oversight of digital payments.
“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 in a statement dated August 26, 2025, obtained by our correspondent.
According to the directive, both existing and newly deployed PoS devices must come with native geolocation features and dual-frequency GPS receivers for precise tracking. Devices that fail to comply with the October 20, 2025, deadline will be barred from operation.
The bank noted that the policy will help eliminate “ghost” or cloned terminals and enable real-time monitoring of transactions.
Under the new rule, each PoS device must capture and transmit its location at the start of every transaction, with any activity beyond a 10-meter radius of the registered merchant address automatically flagged.
Licensed operators, including major banks and fintech firms such as Moniepoint, OPay, and PalmPay, are mandated to register each device with a payment aggregator and provide accurate merchant coordinates.
The CBN added that the measure forms part of a broader effort to modernise Nigeria’s payment infrastructure, strengthen consumer protection, and guarantee that digital financial transactions are secure and traceable.
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