CBN Extends PoS Geo-Fencing Deadline to August 2026

The Central Bank of Nigeria (CBN) has announced an extension of the compliance deadline for Point of Sale (PoS) geo-fencing regulations to August 1, 2026. This decision, communicated in a circular signed by Dr. Rakiya Yusuf, Director of the Payment System Supervisory Department, aims to enhance oversight of electronic payment channels and address operational challenges faced by financial institutions.

The CBN's earlier circular, dated August 25, 2025, mandated the migration to the ISO 20022 standard for payment messaging and required geo-tagging of PoS terminals. The new circular states that the geo-fencing radius for PoS terminals has been increased from 10 meters to 70 meters.

Financial institutions must submit evidence of compliance by July 31, 2026. The extension is expected to provide additional time for institutions to upgrade their systems and resolve operational bottlenecks in alignment with regulatory requirements.