The Central Bank of Nigeria (CBN) has loosened its grip on Point of Sale (PoS) operations across the country. In a newly released circular, the apex bank announced it is expanding the allowed geographic boundary, or “geo-fence radius,” for PoS terminals from a tight 10 metres to a much wider 70 metres.
The Central Bank of Nigeria (CBN) has loosened its grip on Point of Sale (PoS) operations across the country. In a newly released circular, the apex bank announced it is expanding the allowed geographic boundary, or “geo-fence radius,” for PoS terminals from a tight 10 metres to a much wider 70 metres.
Along with this expansion, the CBN has pushed the deadline for companies to fully comply with these location rules to August 1, 2026.
What is Geo-Fencing and Why Does it Matter?
To fight the rising wave of digital financial fraud, the CBN introduced strict tracking rules for mobile banking.
• Geo-tagging: Financial companies (like Moniepoint, OPay, and PalmPay) must register the exact GPS coordinates of where a PoS machine belongs.
• Geo-fencing: This builds a “virtual wall” around that registered business. Under the old rule, if a PoS terminal was moved more than 10 metres away from its shop, it could be flagged or blocked.
While the rule was designed to stop bad actors from moving stolen or unregistered terminals around, the initial 10-metre limit proved to be a major headache. In the crowded markets and unstable network conditions of Nigerian business hubs, 10 metres was simply too small and rigid for agents trying to do their daily work.
Why the Change to 70 Metres?
By increasing the space to 70 metres a massive 600% increase in operating area the CBN is giving agents much-needed breathing room.
This change helps solve several everyday operational challenges:
• Market Mobility: Agents in large, open-air markets can now move around slightly to find better network signals or walk to a nearby customer without the machine shutting down.
• Tech Hurdles: GPS tracking isn’t always perfectly accurate inside concrete buildings or under bad weather. The 70-metre buffer prevents the system from accidentally blocking honest businesses due to minor GPS glitches.
The CBN’s adjustment shows it is willing to listen to the practical challenges raised by banks and fintech providers, but the ultimate goal remains the same: total visibility over every transaction.
In July 31, 2026, banks and fintechs must email evidence of their tracking setups to the CBN and august 1, 2026 CBN will officially begin enforcing the new 70-metre geo-fencing laws.
You will still be able to find and use PoS agents easily, but behind the scenes, the government is ensuring that every machine stays exactly where it is registered to operate just with a little more room to move.
