CBN extends PoS geo-fencing deadline to July 31
CBN Extends Deadline for PoS Terminal Geo-Fencing Compliance to July 31
By Emma Ujah, Abuja Bureau Chief
The Central Bank of Nigeria (CBN) has announced an extension of the deadline for the enforcement of its Point of Sale (PoS) terminal geo-fencing framework, moving the new date to July 31, 2026. This decision aims to provide additional time for compliance among stakeholders in the payments ecosystem.
Rakiya Yusur, Director of the CBN’s Payments System Supervision Department, communicated this update in a recent circular. The initiative mandates that all PoS terminals across Nigeria be geo-tagged to help combat fraud and robbery associated with the use of PoS systems.
In accordance with the directive, various entities, including Deposit Money Banks, Microfinance Banks, Mobile Money Operators, Super Agents, and switching companies, are required to adopt the ISO 20022 messaging standard alongside the geo-tagging of payment terminals.
The extension allows operators extra time to fulfill technical and operational requirements. According to the circular, “Geo-fence radius is hereby increased from 10 metres to 70 metres. Enforcement of PoS Terminal Geo-fence is extended to August 1, 2026.”
Compliance documentation should be submitted to the Director of the Payments System Supervision Department at the CBN by July 31, 2026. Financial institutions are also instructed to resolve any operational challenges with the National Central Switch within the specified timeframe to facilitate compliance.
Geo-fencing technology will restrict PoS terminals to specific geographic locations associated with registered merchants and agents. This measure intends to enhance monitoring capabilities for the CBN and law enforcement agencies, thereby addressing concerns related to the misuse of PoS systems.
For more information, stakeholders can contact the department via email at paymentdata@cbn.gov.ng.
