CBN Mandates Moniepoint, Palmpay,Opay and Others to Geotag 4.2 Million POS Terminals in 60 days.
CBN orders banks and fintechs to geo-tag all PoS terminals within 60 days, warning that non-compliant devices will be deactivated.
The Central Bank of Nigeria has given a new directive to shut down PoS machines that are used outside of a merchant’s registered address.
In a press release on August 25, 2025, the regulator ordered all registered and licensed operators, such as Moniepoint, OPay, PalmPay, and banks, to geo-tag every PoS terminal within 60 days.
With the new directive, this implies that the millions of PoS machines being used PoS by agents and merchants across Nigeria must now be registered with exact GPS coordinates showing where each machine is being used.
The CBN made it clear that the primary goal is to curb fraud, stop the use of cloned or “ghost” terminals, and make it easier to track transactions in real time.
Going by the new rule, all existing PoS machines must be updated with built-in GPS systems and connected to the National Central Switch, which will monitor locations through a special software development kit (SDK).
In the words of CBN, it stated that, “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 directive mandates that all PoS machines must come with built-in geolocation features and dual-frequency GPS receivers for precise tracking. Any terminal that fails to comply by the October 20, 2025, deadline will be deactivated.
Under the new rules, each PoS machine must capture and transmit its location at the start of every transaction. Transactions conducted more than 10 metres away from the registered merchant address will be automatically flagged.
Licensed operators including banks and fintech firms such as Moniepoint, OPay, and PalmPay are also required to register every terminal with a payment aggregator, providing exact GPS coordinates for each merchant.
According to the CBN, the measure is part of a broader strategy to modernise Nigeria’s payment infrastructure, strengthen consumer protection, and guarantee that all digital financial transactions remain secure and traceable.
