10 Things PoS Agents Should Know About CBN’s New Guidelines

The Central Bank of Nigeria (CBN) has released new rules that will change how Point-of-Sale (PoS) agents operate across the country. 

These guidelines, titled “Guidelines for the Operations of Agent Banking in Nigeria,” were issued on October 6, 2025, and took effect immediately.

The move comes as the CBN seeks to strengthen financial inclusion, improve service quality, and reduce fraud in Nigeria’s fast-growing PoS industry. 

With over 8.3 million registered PoS terminals nationwide, the new rules are expected to bring more structure and accountability to the system. Here are the key things every PoS agent must know about the new CBN guidelines:

Only one financial partner allowed

PoS agents can now operate under only one financial institution. This means an agent must choose a single partner such as Opay, Moniepoint, Palmpay, or Kuda. Running multiple terminals under different institutions is no longer allowed.

Dedicated accounts are now mandatory

All PoS transactions must go through a dedicated account or wallet linked to the principal financial institution. The CBN warns that any transaction done outside this account is a violation and can lead to blacklisting or termination of the agent’s licence.

New cash withdrawal limits

The CBN has placed strict limits on cash transactions.

• A customer can withdraw a maximum of ₦100,000 per day.
  
• An agent can process up to ₦1.2 million daily in total.
  
• Deposits and bill payments are limited to ₦100,000 per transaction daily and ₦500,000 weekly.
  

These limits aim to reduce cash circulation and encourage digital payments.

Debtors and underage operators are barred

Anyone below 18 years old or with non-performing loans, criminal records, or blacklisted BVNs cannot operate as a PoS agent. Businesses must also show proof of tax compliance, registration documents, and adequate capital before approval.

Transactions must be realtime and geo-fenced

PoS terminals are now restricted to work only within their registered business location. Moving a terminal to another area or sharing it with others requires written approval from the financial institution. All transactions must also happen in real time.

Training is now compulsory

CBN now requires all PoS agents to attend training at least twice a year. The training will cover important topics like Know Your Customer (KYC), fraud prevention, financial literacy, and customer service. This is to ensure agents understand both security and service standards.

Customer transparency is a must

PoS agents must display their principal’s name, approved transaction fees, and contact details at their shop or kiosk. They must also issue receipts for every transaction and clearly inform customers that services depend on the availability of funds.

Daily reports are now required

Every PoS agent must submit daily reports of all transactions, including withdrawals and balances. These reports will be sent electronically to the Nigeria Interbank Settlement System (NIBSS), which will forward them to the CBN for monitoring.

Relocation requires approval

Agents cannot move, close, or transfer their business location without giving at least 30 days’ written notice and getting approval from their principal or super agent. This is to help the CBN track and verify every operating PoS location.

Penalties for violations are heavy

Agents who break any of the new rules could face fines between ₦2 million and ₦20 million, depending on the offence. In serious cases, they may lose their operating licence entirely.