CBN Mandates Single Terminal Use for PoS Operators, Promotes Financial Stability

In a bid to bolster the stability of Nigeria’s financial system, the Central Bank of Nigeria (CBN) has introduced new guidelines for Point-of-Sale (PoS) operators. Effective immediately, these agents are mandated to register with only one financial institution and are restricted to serving customers exclusively through that Principal’s network. This policy change is part of a broader effort by the CBN to regulate the agent banking ecosystem in light of rapid growth.