CBN Orders PoS Machines to Be Tracked Within 60 Days

The Central Bank of Nigeria has given operators 60 days to link all Point of Sale (PoS) machines to their exact locations.

According to the directive, every PoS device must be fitted with geolocation features that capture and transmit its location each time a transaction is made. Any terminal used outside the registered business address by more than 10 metres will be flagged.

The apex bank said PoS machines that fail to comply by October 20, 2025, will be deactivated. The measure is aimed at stopping cloned or “ghost” devices and ensuring transactions can be tracked in real time.

Banks and fintech operators, including Moniepoint, OPay, and PalmPay, are required to register each device with a payment aggregator and provide accurate merchant coordinates. The CBN explained that this forms part of efforts to modernise Nigeria’s payment system and enhance consumer protection.