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Nigeria: CBN Orders Banks, Fintech Firms to Make GPS Tracking Mandatory for PoS Terminals
- The Central Bank of Nigeria mandated all Point of Sale terminals in the country to be geo-tagged within 60 days to enhance oversight of digital payments and combat fraud.
- The CBN stated that any PoS devices operating outside their registered location will be flagged, and non-compliant terminals will be deactivated by October 20, 2025.
- The measures aim to capture location data at the start of transactions to eliminate cloned terminals and improve real-time monitoring of PoS terminals.
- Major banks and fintech companies are required to register terminals with precise merchant coordinates, as per the CBN's directive.
17 Articles
17 Articles
CBN orders banks, fintech firms to make GPS tracking mandatory for PoS terminals
The CBN also directed payment companies to adopt a new global standard for transaction messages, known as ISO 20022, by 31 October. The post CBN orders banks, fintech firms to make GPS tracking mandatory for PoS terminals appeared first on Premium Times Nigeria.
CBN Sets October 2025 Deadline For ISO 20022, Geo-Tagging Compliance » News.ng
The Central Bank of Nigeria (CBN) has directed all payment industry participants to fully adopt the ISO 20022 messaging standard and implement mandatory geo-tagging of payment terminals by October 31, 2025. In a circular dated August 25, 2025, and signed by Dr. Rakiya O. Yusuf, Director of Payments System Supervision, the CBN stressed that ISO 20022 is now the global standard for payments messaging. “All payment transaction messages exchanged do…
CBN Mandates Geo-Tagging for All PoS Terminals in Nigeria Within 60 Days
The Central Bank of Nigeria (CBN) has issued a groundbreaking directive requiring all Point of Sale (PoS) terminals across the country to be geo-tagged within the next 60 days. The move, announced on Tuesday, aims to enhance transparency, curb fraud, and strengthen the monitoring of electronic transactions in Nigeria’s rapidly growing cashless economy.According to the CBN, geo-tagging will enable real-time tracking of PoS terminal locations, ens…
CBN Orders Mandatory Geo-Tagging of PoS Terminals Nationwide to Tackle Fraud - TV360 Nigeria
The Central Bank of Nigeria (CBN) has issued a sweeping directive mandating that all Point of Sale (PoS) terminals across the country be geo-tagged within the next 60 days. In a circular dated August 26, 2025, the apex bank said the policy is part of a broader strategy to curb fraud, strengthen regulatory oversight of digital payments, and modernize Nigeria’s fast-growing payment ecosystem. “This initiative is designed to ensure that all PoS ter…
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