CBN Releases New Guidelines for PoS Agents: What You Must Know

The Central Bank of Nigeria (CBN) has issued new guidelines for Point of Sale (PoS) agents, effective immediately. The guidelines aim to enhance financial inclusion and service standards in Nigeria's expanding PoS ecosystem.

Agents must now operate under one financial institution, like Moniepoint or Palmpay, and conduct transactions through dedicated accounts or wallets. CBN has set limits on daily PoS cash withdrawals and deposits to prevent violations.

Operating outside these guidelines may lead to blacklisting. These regulations consolidate and replace previous rules to streamline agent banking operations across the country.