The Central Bank of Nigeria (CBN) has introduced stringent regulations for Point-of-Sale (POS) operations nationwide to enhance financial security and combat escalating fraud.
The new directive mandates that all POS terminals be geo-tagged, restricted to operating within 10 meters of their registered business address, and connected exclusively through licensed payment aggregators.
The CBN stated that these measures aim to improve transparency, consumer protection, and accountability in the financial sector. However, the rules impose tighter controls on POS agents, limiting their operational flexibility across the country
Click to signup for FREE news updates, latest information and hottest gists everyday
Advertise on NigerianEye.com to reach thousands of our daily users
No comments
Post a Comment
Kindly drop a comment below.
(Comments are moderated. Clean comments will be approved immediately)
Advert Enquires - Reach out to us at NigerianEye@gmail.com