CBN’s New POS Policy: What Every Nigerian User Should Know

The Central Bank of Nigeria (CBN) has rolled out a new policy that changes how Point-of-Sale (POS) devices operate across the country. These changes are designed to boost security, prevent fraud, and modernize payments in line with global standards.

Key Highlights of the Policy

1. Geo-Tagging of POS Terminals

Every POS device must now be fixed to a registered location. This means operators can no longer roam around with their terminals. Devices outside their approved 10-metre radius will be flagged or disabled.

2. Centralized Transaction Routing

POS transactions must go through one of two official aggregators – NIBSS or Unified Payment Services Limited – ensuring better oversight and fraud prevention.

3. Migration to ISO 20022 Standard

By October 31, 2025, all POS systems will switch to a richer, global messaging standard (ISO 20022) for safer, faster, and more transparent payment data.

4. Compliance Deadline

Operators have a 60-day compliance window (till October 31, 2025). Any non-compliant POS will be blocked from the payment system.

What This Means for POS Users

• Operators may need to upgrade their devices to meet GPS and software requirements.

• Merchants must ensure their terminals are registered and routed properly.

• Users can expect safer, faster, and more traceable transactions once the policy takes full effect.

EasySpend’s Position

At EasySpend, we’re always ahead of compliance. Our systems are aligned with CBN’s new rules, so your transactions remain safe, fast, and uninterrupted.

We’ll continue to share updates to help you stay informed and compliant.

Skip the line. Manage your payments with EasySpend at www.easyspend.cc.

Download EasySpend today!

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