The Central Bank of Nigeria (CBN) has ordered that all Point of Sale (PoS) terminals across the country be geo-tagged within 60 days.
In a statement dated 26 August 2025, obtained by our correspondent, the CBN said the measure aims to curb fraud and tighten oversight of digital payments. It also forms part of a wider plan to modernise Nigeria’s payment system, strengthen consumer protection, and ensure that financial transactions are secure and fully traceable.
“This initiative is designed to make every PoS terminal traceable and guarantee transaction security. Terminals operating outside their registered locations will be flagged, and non-compliant devices will be deactivated,” the bank stated.
According to the directive, newly deployed PoS devices must feature in-built geolocation technology and dual-frequency GPS receivers for accurate tracking. From 20 October 2025, any terminal that fails to comply will be barred from operating.
Each device must capture and transmit its location at the start of every transaction. Any activity beyond a 10-metre radius of the registered merchant address will be automatically flagged.
The CBN added that the new requirement will help eliminate “ghost” or cloned terminals and enable real-time monitoring of transactions.
Licensed operators, including major banks and fintech companies such as Moniepoint, OPay, and PalmPay, must now register every PoS terminal with a payment aggregator and provide precise merchant coordinates.