CBN Orders PoS Agents to Stay Within 10 Metres of Registered Spot

The Central Bank of Nigeria (CBN) has issued a new guideline requiring all Point-of-Sale (PoS) agents in Nigeria to conduct transactions within 10 metres of their registered business locations. 

The rationale behind the policy is simple: fairness and accessibility. In many areas, POS agents often crowd the same spots, competing fiercely for the same set of customers. This clustering, while convenient for customers, creates an uneven playing field for agents and leaves many neighbourhoods underserved. 

The 10-metre rule aims to change that by ensuring a more even distribution of POS agents across communities, giving people in less crowded areas better access to financial services.

For POS agents, the rule brings both challenges and opportunities. Some worry that being required to space out may reduce customer traffic in high-density commercial areas, potentially affecting earnings. 

However, the flip side is promising: agents now have a reason to explore untapped neighbourhoods, expanding their reach and building loyal customer bases in previously underserved areas.

The CBN hopes this policy will not only enhance operational efficiency but also boost financial inclusion, making banking services more accessible to millions of Nigerians outside major commercial hubs. 

For the fintech ecosystem, it’s a call to innovate more innovative distribution strategies, invest in mobile or portable solutions, and rethink how services are delivered in both urban and rural settings.