The Central Bank of Nigeria has issued a new directive mandating that every Point of Sale (PoS) terminal in the country must be geo-tagged within the next two months – www.naijnaira.com reports.
According to a statement dated August 26, 2025, the apex bank said the order is part of a wider strategy to strengthen digital payment security and block fraudulent activity.
The CBN explained that terminals operating outside their registered merchant address will be automatically flagged, while those that fail to comply by October 20, 2025, will be deactivated.
“This initiative is designed to ensure that all PoS terminals are traceable and that transactions are secure,” the bank stated.
Each device is now required to come with built-in geolocation capabilities and double-frequency GPS receivers for precise tracking.
Operators have also been instructed to ensure terminals transmit their exact coordinates at the start of every transaction, with movements beyond 10 meters triggering alerts.
Banks and licensed fintech companies such as OPay, PalmPay, and Moniepoint must register devices with approved aggregators and submit merchant location details.
The CBN added that the move supports its broader agenda of modernizing the payment system and guaranteeing safer transactions for Nigerians.
Article updated 22 hours ago. Content is written and modified by multiple authors.
