CBN Extends PoS Geo-Fencing Enforcement Deadline to July 31, 2026 Amid Compliance Push
The Central Bank of Nigeria (CBN) has announced an extension of the enforcement deadline for its Point of Sale (PoS) terminal geo-fencing framework, shifting the implementation timeline to July 31, 2026. The decision is aimed at giving operators across Nigeria’s financial ecosystem more time to fully comply with the new regulations.
According to a circular issued by the Director of the Payments System Supervision Department, Rakiya Yusur, the updated policy is part of broader efforts to strengthen security and reduce fraud associated with PoS transactions across the country. The CBN said the move follows ongoing stakeholder engagements within the payments sector.
The framework requires all PoS terminals in Nigeria to be geo-tagged, ensuring they operate within a defined location radius. It also mandates compliance with the ISO 20022 messaging standard for all players, including Deposit Money Banks, Microfinance Banks, Mobile Money Operators, super agents, and switching companies.
In the revised directive, the regulator increased the geo-fence radius from 10 metres to 70 metres, while also adjusting the enforcement date to August 1, 2026. Financial institutions are expected to resolve all technical issues with the National Central Switch and submit compliance evidence by July 31, 2026.
With this extension, the CBN says it is prioritizing a smoother transition rather than strict enforcement, while still pushing for stronger safeguards in Nigeria’s rapidly growing digital payments system, especially as concerns around PoS-related fraud and insecurity continue to rise.
source: vanguard