10 Things Every PoS Agent Must Know as CBN Releases New Guidelines

• The CBN has released a new framework to regulate PoS and agent banking operations across Nigeria
• The new rules covered various transaction limits, exclusive partnerships, and penalties for violations
• Data from the Nigeria Interbank Settlement Scheme showed that the country has 8.36 million registered PoS terminals
• Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

The Central Bank of Nigeria (CBN) has released an updated framework governing agent banking operations, marking a major shake-up in how Point-of-Sale (PoS) agents and super agents operate across the country.

The document titled “Guidelines for the Operations of Agent Banking in Nigeria,” issued on October 6, 2025, takes effect immediately.

It consolidates and replaces all previous rules on agent banking and super-agent licensing.

New rules for PoS operation in Nigeria

The apex bank said the new framework aims to deepen financial inclusion, improve service standards, and curb fraud in Nigeria’s rapidly expanding PoS ecosystem, Punch reports.

Read also

Reps raise panel for PoS, cryptocurrency as CBN announces new cash withdrawal limits

Here are the key takeaways from the new guidelines every PoS agent should know:

PoS operators must now operate with one terminal

The CBN now allows agents to use only one financial institution at a time, meaning no more multi-bank or multi-fintech operations.

The agent must choose one of Opay, Moniepoint, Palmpay, Kuda, among others

Mandatory dedicated accounts

Agent banking transactions shall be conducted through a dedicated account or wallet with the Principal for enhanced visibility.

Payment terminals, such as PoS devices deployed to the agent, shall be linked only to the dedicated Agent account or wallet.

CBN says any agents that operate outside this account constitute a violation and may lead to blacklisting or termination.

Cash withdrawal limit

CBN also placed a limit on PoS cash withdrawal transactions at N100,000 per customer daily, N500,000 weekly, and N1.2 million cumulative per agent daily.

While Deposits and bill payments are similarly limited to N100,000 per transaction daily and N500,000 weekly.

Read also

There’ll be consequences: CBN lists those eligible to operate PoS business, blacklists debtors’ BVNs

Debtors not allowed in agent banking

The apex bank also said individuals below 18 are not allowed in agent banking, and debtors with non-performing loans, criminal records, or blacklisted BVNs are disqualified.

Also, Businesses must show tax compliance, incorporation documents, and sufficient capital to qualify.

Real-time transactions and geo-fencing

Every PoS terminal will only be allowd to process transactions in real time and remain geo-fenced to its registered location.

Movement or sharing of devices requires prior written approval from the principal institution.

Agents training compulsory

Agents are required to undergo biannual training on Know Your Customer (KYC) procedures, fraud prevention, financial literacy, and customer service.

Consumer protection and transparency

Agents must display their principal’s name, approved transaction fees, and contact details. Receipts must be issued for every transaction, and customers must be informed that all services are subject to fund availability.

Mandatory reporting

All agents must submit daily transaction reports, including withdrawals, transaction limits, and balances, electronically to NIBSS, which will forward them to the CBN for oversight.

Read also

CBN issues new agent banking guidelines with fines starting at N5 million

Relocation policy

Agents cannot relocate, transfer, or close their business premises without giving at least 30 days’ written notice and obtaining approval from their principal or super agent.

Heavy sanctions for violations

Non-compliance with any of the rules will attract fines ranging from N2 million to N20 million, depending on the severity of the infraction.

Also, offenders risk suspension or outright revocation of their licences.

CBN fines 9 banks 150 million

Earlier, Legit.ng reported that the CBN sanctioned commercial banks for failing to dispense cash via their ATMs.

Following checks on their branches, the apex bank sanctioned each bank N150 million for non-compliance with its cash distribution guidelines.

The sanction follows several warnings from the apex bank to the banks to guarantee cash availability, especially during the Yuletide.

Source: Legit.ng