Regulatory Alerts2026-05-29 | PSS/DIR/PUB/CIR/001/003Revised Implementation Timeline and Enforcement on PoS Geo-Fencing
The Central Bank of Nigeria has increased the mandatory PoS geo-fence radius from 10 metres to 70 metres and extended the enforcement deadline to August 1, 2026. All regulated financial institutions must submit evidence of compliance to the Payments System Supervision Department by July 31, 2026. Additionally, operators are mandated to resolve all outstanding operational issues with the National Central Switch within this timeframe to facilitate adherence to the new requirements.
Share