PoS geo-tagging: CBN sets N5 million minimum penalty

The Central Bank of Nigeria (CBN) has tightened regulation on agent banking by mandating geo-tagging (or geo-fencing) of Point of Sale (PoS) terminals and introducing a minimum penalty of N5 million, with an additional N300,000 per day for ongoing non-compliance.  The post PoS geo-tagging: CBN sets N5 million minimum penalty appeared first on Nairametrics.

  Business   Oct 7, 2025   0   13  Add to Reading List
PoS geo-tagging: CBN sets N5 million minimum penalty

The Central Bank of Nigeria (CBN) has tightened regulation on agent banking by mandating geo-tagging (or geo-fencing) of Point of Sale (PoS) terminals and introducing a minimum penalty of N5 million, with an additional N300,000 per day for ongoing non-compliance. 

The post PoS geo-tagging: CBN sets N5 million minimum penalty appeared first on Nairametrics.

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