The Central Bank of Nigeria (CBN) has given all Point of Sale (PoS) operators 60 days to link their machines to a specific location (geo-tagging).
In a circular dated August 26, 2025, the bank said the move is aimed at reducing fr♤ud, protecting customers, and making transactions more secure and traceable.
According to CBN, any POS machine used outside its registered location will be fl♡gged, while devices that fail to meet the rule by October 20, 2025, will be dis♡bled.
So basically, what this means is that a GPS is going to be fixed on various locations and POS must be linked to it.
You see those POS devices people carry about? Some are gh0st terminals, f♤k£ and cloned, they use it to d£fr♡ud others but as it stands, once they move away from the GPS linked to it, it gets fl♤gged, disconnected like wifi and rendered useless.
Henceforth, if you get sc♡mm£d at a POS point, authorities can easily track where the transaction happened.
I love this development but the problem I have now is that newer machines with GPS might be expensive and my people will pass this cost to customers through higher charges.
Again, some agents could be cut off if they fail to meet the deadline, reducing access to cash in certain areas temporarily.
Oh my God network is another problem because if the GPS glitches, a legitimate transaction could be wrongly flagged as fraudulent.
