The Nigerian Central Bank(CBN) has mandated that all Point of Sale (PoS) terminals be geo-tagged within 60 days in an effort to reduce fraud and improve control of electronic 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.
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According to the regulation, all PoS devices, both new and old, must have double-frequency GPS receivers and inherent geolocation capabilities for precise tracking. Terminals that don’t meet the deadline of October 20, 2025, will be unable to continue operating.
The step, according to the bank, will assist get rid of “ghost” or cloned terminals and allow for real-time transaction monitoring.
Every transaction must begin with the location of each PoS device being recorded and transmitted; any activity that occurs more than 10 meters from the registered merchant address is automatically reported.
Major banks and fintech firms including Moniepoint, OPay, and PalmPay are among the licensed operators who are required to register each terminal with a payment aggregator and supply accurate merchant coordinates.
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According to the CBN, the action is a component of a larger strategy to update Nigeria’s payment system, enhance consumer protection, and guarantee the security and complete traceability of digital financial transactions.
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