The Central Bank of Nigeria (CBN) has directed that all Point-of-Sale (PoS) terminals nationwide be geo-tagged within the next 60 days.

In a statement dated 26 August 2025, the apex bank said the move is part of efforts to curb fraud and strengthen oversight of digital payments. It also forms part of a broader strategy to modernise Nigeria’s payment system, enhance consumer protection, and ensure that financial transactions are secure and traceable.

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

The CBN explained that the policy would help eliminate cloned or “ghost” terminals and enable real-time monitoring of transactions.

Newly deployed devices are required to feature native geolocation technology and double-frequency GPS receivers for precise tracking. Terminals that fail to comply by the 20 October 2025 deadline will be barred from operation.

Each device must capture and transmit its location at the start of every transaction, with any activity beyond a 10-metre radius of the registered merchant address automatically flagged.

Licensed operators, including major banks and fintech firms such as Moniepoint, OPay and PalmPay, are expected to register all terminals with a payment aggregator and provide accurate merchant coordinates.