The Business NG - October 08, 2025

In this issue

Here’s a concise Editorial Focus for BusinessNG for 8 October 2025, under 180 words:


---

Editorial Focus: CBN Tightens Grip on PoS Industry

The Central Bank of Nigeria (CBN) has unveiled robust reforms aimed at sanitising the Point-of-Sale (PoS) ecosystem, signalling a new era of accountability and regulatory oversight. By introducing monthly reporting obligations, geo-tagging requirements, and a ₦5 million minimum penalty for violations, the apex bank is demanding strict adherence from financial institutions and PoS super agents.

Under the new framework, banks must report transaction volumes, values, fraud incidents, and agent details—including BVN, TIN, and business addresses—by the 10th of each month. Transaction limits remain enforced, capping daily agent transactions at ₦1.2 million and individual payments at ₦100,000, while anti-money laundering and counter-terrorism compliance is now mandatory.

The CBN’s reforms underscore the centrality of trust, transparency, and operational discipline in Nigeria’s digital payments sector. While some operators may view the rules as stringent, they are necessary to curb fraud, enhance investor confidence, and protect the integrity of the financial system. For the PoS industry, compliance is no longer optional—it is a prerequisite for survival and sustainable growth.