The CBN's geo-tagging rule is for the purpose of tightening oversight of the booming network that's corrupted with many unethical activities.
CBN Puts Nigeria's PoS Devices on a Short Leash
Nigeria’s point-of-sale (PoS) network is about to get a real-world test of accuracy, reliability, and location-based accountability. The Central Bank of Nigeria (CBN) has ordered all payment terminals to be geo-tagged, or risk being shut down. In a circular released on August 25, 2025, the regulator gave operators like Moniepoint, OPay, PalmPay, Kuda, Fairmoney POS, and traditional banks POS like UBA, First Bank e.t.c. just 60 days to map every PoS device to its exact GPS coordinates. The “reality check” part comes in because many operators may have been inflating their coverage claims, misreporting device locations, or allowing terminals to be moved around informally. GPS tagging will expose the true state of the network. In addition to that, fraud, cloned terminals, and ghost agents have turned parts of the network into a digital free-for-all. Under the new rules, PoS machines will only process payments within a 10-metre radius of their registered business address. From October 20, any …
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Temmy is the founder of Budgetrend. He is a seasoned journalist with extensive experience in business of technology, economy, finance, business, money, politics and education. He is currently studying Accounting at the Federal University of Oye-Ekit…
