CBN Moves PoS Geo-Fencing Deadline To August

By Babatunji Wusu

The Central Bank of Nigeria (CBN) has moved the strict deadline for the mandatory tracking of Point of Sale terminals to August 1, 2026. Alongside this extension, the regulator has significantly broadened the allowed operating area for these devices from 10 metres to 70 metres to help local business owners.

Dr. Rakiya O. Yusuf, Director of the Payments System Supervision Department, signed the official central bank circular on May 29. She explained that the apex bank chose to make these adjustments after listening to business feedback and looking at daily working conditions.

The document referred directly to earlier rules about payment systems and tracking. It stated: “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 geotagging of payment terminals, and various stakeholders’ engagement on the subject to address the operationalisation of the Circular, the Central Bank of Nigeria (CBN) has considered and approved the following: i. Geo-fence radius is hereby increased from 10 metres to 70 metres. ii. Enforcement of PoS Terminal Geo-fence is extended to August 1, 2026.”

All registered financial institutions, including commercial banks, mobile money operators, and microfinance firms, must now finish their technical updates before the new compliance deadline. Businesses must send proof of their progress to the apex bank by July 31.

This sevenfold expansion gives great relief to mobile agents working in locations with bad satellite signals. The location tracking technology helps the apex bank watch where devices are used, stopping fraud and stopping people from using machines in illegal areas. Financial experts had previously complained that the original 10-metre rule was simply too small for regular shopkeepers to manage.