The Central Bank of Nigeria has expanded the permitted operating radius for Point-of-Sale terminals from 10 metres to 70 metres and extended the compliance deadline for the geo-fencing policy to August 1, 2026.
The adjustment follows concerns from operators and merchants that the original limit was too restrictive for Nigeria’s growing agent banking network.
Under the revised framework, operators including Moniepoint, OPay and PalmPay must continue geo-tagging PoS terminals with accurate coordinates, but terminals can now operate within a wider approved radius.
The CBN said the measure is aimed at strengthening oversight and curbing fraud while allowing more flexibility for merchants and payment companies.
Nigeria’s PoS ecosystem has expanded rapidly in recent years, becoming a major channel for cash withdrawals and digital payments nationwide, though regulators have raised concerns over fraud, identity masking and terminal misuse.
