The Central Bank of Nigeria (CBN) has directed that all Point of Sale (PoS) terminals in the country begin geo-tagged within 60 days to curb fraud and strengthen payment security.
According to the directive issued on August 26, 2025, all PoS devices must have GPS tracking features and transmit their location at the start of every transaction. Terminals operating outside a 10-meter radius of their registered merchant address will be flagged, while non-compliant devices will be deactivated after the October 20, 2025, deadline.
The CBN explained that the move will eliminate cloned or “ghost” terminals and enable real-time monitoring of transactions. Banks and fintech operators, including Moniepoint, OPay, and PalmPay, are required to register each terminal with approved aggregators and provide accurate merchant coordinates.
This policy, the apex bank said, is part of its broader plan to modernise Nigeria’s payment system, enhance consumer protection, and ensure that all digital transactions are fully traceable.