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The Central Bank of Nigeria has given payment providers more breathing room. Enforcement of the mandatory PoS terminal geo-fencing rule will now start on 1 August 2026 instead of the earlier date.
Rakiya Yusur, CBN Director of Payments System Supervision, announced the extension in a new circular.
*What changed in the update*
1. *New deadline*: Operators now have until 1 August 2026 to meet the geo-fencing requirement.
2. *Wider radius*: The allowed geo-fence expanded from 10 metres to 70 metres around each terminal’s registered location.
3. *ISO 20022 still required*: All players, DMBs, MFBs, MMOs, Super Agents, and switching companies must still migrate to ISO 20022 messaging and tag every PoS device.
The CBN first ordered nationwide PoS geo-tagging in August 2025, giving firms 60 days. The goal was to fight fraud and tighten oversight of digital transactions.
*How geo-fencing works*
Terminals will only process payments within a approved 70m radius tied to the merchant or agent’s registered address. CBN says this should improve transaction monitoring, reduce misuse of payment channels, and boost integrity across Nigeria’s payment system.
*What CBN wants next*
All affected institutions must send proof of compliance to the Payments System Supervision Department at paymentdata@cbn.gov.ng by 31 July 2026. The bank also told firms to fix any technical issues with the National Central Switch within that timeline to avoid last-minute problems.
Why CBN pushed back its PoS geo-fencing deadline By Clem Aguiyi
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