CBN caps POS daily transactions at N1.2m in new guidelines

The Central Bank of Nigeria (CBN) has introduced new operational guidelines for agent banking services, including Point of Sale (POS) operations across the country.

According to the revised framework, POS agents are now limited to a maximum transaction value of N1.2 million per day, while individual customers are restricted to N100,000 daily.

The directive was contained in a circular signed by Musa Jimoh, Director of the Payments System Management Department, and takes effect from April 1, 2026.

The CBN explained that the new rules are designed to strengthen agent banking, enhance financial inclusion, and ensure better consumer protection and market discipline.

“All financial institutions are required to publish the list of their approved POS agents on their websites and display same in their branches,” the circular stated.

It further clarified: “These limits are intended to curb misuse, enhance financial integrity, and protect consumers within the agent banking framework.

The implementation of agent location and exclusivity provisions shall commence on April 1, 2026.”

The apex bank noted that the guidelines set minimum operational standards to improve service delivery, promote responsible conduct, and ensure transparency in the agent banking ecosystem.