CBN Orders Geo-Tagging of All PoS Terminals Nationwide to Tackle Fraud

The Central Bank of Nigeria (CBN) has issued a directive mandating the geo-tagging of all Point of Sale (PoS) terminals across the country within the next 60 days, in a move aimed at curbing fraud and tightening regulatory oversight of digital payment channels.

According to a circular dated August 26, 2025, obtained by our correspondent, the apex bank said the initiative will ensure traceability of PoS devices and enhance transaction security.

“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 stated.

The directive requires both newly deployed and existing terminals to be equipped with native geolocation features and dual-frequency GPS receivers for accurate monitoring. Devices that fail to comply with the October 20, 2025 deadline risk being barred from operation.

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The CBN explained that the measure will eliminate “ghost” or cloned terminals and enable real-time monitoring of activities. Each PoS device must capture and transmit its location at the start of every transaction, with activity beyond a 10-meter radius of the registered merchant address automatically flagged.

Banks and licensed fintech operators, including major players such as Moniepoint, OPay, and PalmPay, are expected to register each terminal with a payment aggregator and supply precise merchant coordinates.

The apex bank added that the policy forms part of a broader strategy to modernise Nigeria’s payment system, strengthen consumer protection, and ensure that digital financial transactions remain secure and fully traceable.