CBN Sets ₦5 Million Minimum Fine for PoS Geo-Tagging Violations
Agent that violate the geo-tagging rules will face N5 million penalty, with an additional N300,000 per day for ongoing non-compliance.
CBN Sets ₦5 Million Minimum Fine for PoS Geo-Tagging Violations
The Central Bank of Nigeria (CBN) has set a minimum penalty of ₦5 million for any PoS agent that violates its directive mandating the geo-tagging (or geo-fencing) of Point of Sale terminals. In addition, non-compliant agents will face an extra ₦300,000 fine for each day the violation continues. CBN released the new circular—signed by Musa I. Jimoh, Director of Payments System Policy—on October 6, 2025 to capture the increasing complexity of the PoS ecosystem and support Nigeria’s drive toward financial inclusion. Although the directive technically takes effect immediately, but the CBN has postponed its full implementation to April 1, 2026. The more stringent provisions—for those requiring PoS agents to operate from fixed locations and maintain exclusivity—will also come into force on that date. The extension gives PoS agents and their service providers more time to comply with the Apex bank's regulations. This circular takes effect from the date of release, while the implementation of…
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