CBN Expands Nigeria PoS Operating Radius to 70 Metres, Extends Deadline to August 1

According to Nigeria's central bank (CBN) May 29, 2026 circular, the permitted operating radius for Point of Sale terminals has been expanded from 10 metres to 70 metres, and the compliance deadline for the geo-fencing policy has been extended to August 1, 2026.

The revision addresses concerns that the original 10-metre restriction was too rigid for agents and merchants. The rule requires all PoS terminals to be geo-tagged with precise GPS coordinates to curb fraud and prevent unauthorized terminal movement. Payment operators including Moniepoint, OPay, and Palmpay must register devices with a Payment Terminal Service Aggregator (PTSA) and submit compliance evidence to the CBN's Payments System Supervision Department by July 31, 2026.