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

The Central Bank of Nigeria (CBN) has issued a new directive mandating the geo-tagging of all Point of Sale (PoS) terminals nationwide within the next 60 days. The move is part of the apex bank’s broader strategy to curb fraud and enhance the security of Nigeria’s digital payments system.

According to a report by PUNCH, the CBN made this known in a statement dated August 26, 2025, explaining that every PoS device must now be traceable.

“This initiative is designed to ensure that all PoS terminals are properly registered and secure. Terminals operating outside their registered location will be flagged, while non-compliant devices will be deactivated,” the statement read.

The directive requires both existing and newly deployed PoS devices to be equipped with native geolocation features and double-frequency GPS receivers for accurate monitoring. Any terminal that fails to comply by the October 20, 2025 deadline will no longer be permitted to operate.

Under the new rules, each PoS machine must capture and transmit its exact location at the start of every transaction. Any activity conducted beyond a 10-meter radius of the registered merchant’s address will be automatically flagged.

Licensed operators, including major banks and leading fintech firms such as Moniepoint, OPay, and PalmPay, have been directed to register each terminal with a payment aggregator and submit precise merchant coordinates.

The CBN noted that this measure will help eliminate cloned or “ghost” terminals, support real-time transaction monitoring, and safeguard consumers from fraud.

According to the apex bank, the policy is also part of a wider plan to modernize Nigeria’s payment system, strengthen regulatory oversight, and boost public confidence in digital financial services.

PUNCH