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.
Central Bank of Nigeria Payments System Supervision Department Plot 33, Abubakar Tafawa Balewa Way Central Business District P.M.B 0187 Garki, Abuja-Nigeria. E-mail: pssd@cbn.gov.ng Website: www.cbn.gov.ng Phone: +234 700 225 5226, +234 800 225 5226
PSS/DIR/PUB/CIR/001/003 May 29, 2026
CIRCULAR TO: All 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, Other Licensed Operators in the Nigerian Payments Ecosystem.
REVISED IMPLEMENTATION TIMELINE AND ENFORCEMENT ON POS GEO-FENCING
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:
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.
Evidence of compliance to the above should be addressed to the Director, Payments System Supervision Department via paymentdata@cbn.gov.ng not later than July 31, 2026.
Financial institutions are required to resolve all operational issues with the National Central Switch within the stipulated timeline to ease compliance.
Thank you.
Yours faithfully,
Rakiya O. Yusuf, Ph.D. Director, Payments System Supervision Department