CBN Extends Point‑of‑Sale Geo‑Fencing Deadline to July 31

By Emma Ujah, Abuja Bureau Chief

The Central Bank of Nigeria (CBN) has extended the enforcement deadline for its Point of Sale (PoS) terminal geo‑fencing framework to July 31, 2026, providing additional time for compliance.

The extension was announced in a circular issued by Rakiya Yusur, Director of the Payments System Supervision Department.

The CBN had previously mandated that all PoS terminals in the country be geo‑tagged to curb fraud and robbery involving POS devices.

The directive requires every participant in Nigeria’s payments ecosystem—including Deposit Money Banks (DMBs), Microfinance Banks (MFBs), Mobile Money Operators (MMOs), Super Agents, and switching companies—to adopt the ISO 20022 messaging standard and geo‑tag all payment terminals.

Under the new extension, the enforcement date has been moved to 1 August 2026, giving operators additional time to meet the technical and operational requirements.

The circular states: “Further to the Circular with reference number PSS/DIR/PUB/CIR/001/001 dated August 25, 2025, on migration to ISO 20022 standards for payments messaging, mandatory geo‑tagging of payment terminals, and various stakeholders’ engagement on the subject to address the operationalisation of the Circular, the Central Bank of Nigeria has considered and approved the following:”

“Geo‑fence radius is hereby increased from 10 metres to 70 metres. Enforcement of PoS Terminal Geo‑fence is extended to August 1, 2026.”

“Evidence of compliance with the above should be addressed to the Director, Payments System Supervision Department via paymentdata@cbn.gov.ng not later than 31 July, 2026.”

“Financial institutions are required to resolve all operational issues with the National Central Switch within the stipulated timeline to ease compliance.”

Geo‑fencing will restrict PoS terminals to operate only within approved geographic locations linked to registered merchants and agents, enabling the CBN and security agencies to track those who use POS devices for criminal purposes.

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