BN Extends PoS Geo-fencing Deadline To August 1
The Central Bank of Nigeria (CBN) has extended the enforcement deadline for its Point-of-Sale (PoS) geo-fencing policy to August 1, 2026.
This was just as the apex bank increased the permitted geo-fence radius from 10 metres to 70 metres as part of efforts to ease industry compliance.
The directive was contained in a circular dated May 29, 2026, and signed by the Director of the Payments System Supervision Department, Rakiya Yusuf.
The circular was addressed to Deposit Money Banks (DMBs), Microfinance Banks (MfBs), Mobile Money Operators (MMOs), Switching and Processing Companies, Payment Terminal Service Providers (PTSPs), Payment Solution Service Providers (PSSPs), Super Agents and other licensed operators, outlining revisions to the implementation timeline for the policy.
The apex bank said the changes followed engagements with stakeholders on the implementation of an earlier directive covering migration to ISO 20022 standards for payments messaging and the mandatory geo-tagging of payment terminals.
According to the CBN, “Geo-fence radius is hereby increased from 10 metres to 70 metres”, adding that “enforcement of PoS Terminal Geo-fence is extended to August 1, 2026.”
The CBN explained that the revised measures were approved after considering stakeholders’ concerns and operational issues surrounding the implementation of the directive.
“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 operationalization of the Circular, the Central Bank of Nigeria has considered and approved the following,” the circular stated.
To ensure compliance, the bank directed all affected institutions to submit evidence of compliance before the new enforcement date.
“Evidence of compliance to the above should be addressed to the Director, Payments System Supervision Department not later than July 31, 2026,” the circular added.
The regulator further instructed financial institutions to address any outstanding technical issues with the National Central Switch ahead of the deadline.
“Financial institutions are required to resolve all operational issues with the National Central Switch within the stipulated timeline to ease compliance,” it said.
In August 2025, the CBN directed that all PoS terminals in the country be geo-tagged within 60 days as part of measures to curb fraud, strengthen oversight of digital payments, improve transaction monitoring and enhance security within the financial system.