CBN Don Lock PoS Agents Down with New Tough Regulations

Abuja, Nigeria — E don happen o! The Central Bank of Nigeria (CBN) don drop serious gavel for the Point-of-Sale (POS) agents as dem introduce new guidelines wey go change how dem dey do business. Starting from April 1, 2026, POS agents go need to pick one principal wey dem go dey work with, no more juggling multiple principals like fine girls on social media. This one na to make sure sey financial services dey more secure and accessible for all dem underbanked areas wey we sabi.

So wetin be the koko? According to CBN, this new framework go replace all the old agent banking rules wey dey run before. If you dey work as POS agent, you fit still do your normal cash-in, cash-out, naira transfers, and all the small-small transactions wey people sabi. But make e clear say the super agents wey dey manage and recruit normal agents, no fit provide agent banking service directly again. As e be, na mighty wahala for any super agent wey dey chop money without doing proper work.

But that no be the end o! PoS agents go now dey face stricter checks. If you dey owe money or your Bank Verification Number (BVN) dey blacklisted, abeg, you no fit operate again. Na wah! E mean sey if you don get wahala for your account, dem go lock your business matter.

Another serious matter be sey all these agents must dey work from agreed locations wey no be less than kiosk, and if you get bigger business like petrol station or shop, you must dey operate from where e registered. Na so dem fit get better control.

And guess wetin? All the agents go now dey operate under transaction limits wey reach N1.2 million for daily dealings. This one suppose help curb fraud, because since dey don notice sey agents dey use their terminals for bulk cash withdrawals like sey dem wan scatter everywhere. With this kind limits, we dey try make sure sey POS services no turn to small banks wey dey no respect any rules.

CBN also drop some measures wey go make competition dey fair. No principal fit promote any card brand alone, and all customers go dey enjoy same price and rewards—abi na for movie set we dey talk? This is about business, and everybody deserve chance to shine.

All agent locations must now carry their principal and super agent name plus logo. But make you no go mislead people with any name wey go make dem think sey you be real bank. We no wan hear any wahala of “finance” or “bank” o! This one go help the common man better know who be who on top the street.

To ensure sey everybody dey follow the rules, the CBN go fit punish any agent wey no comply. Punishments sabi dey range from blacklisting to termination of agreements, dem fit even close shops if you misbehave. The main goal na to make the payment ecosystem dey safer and more reliable.

As e be now, the CBN no dey joke with this new rules and dem dey serious about enforcement. We fit talk sey this one fit be good step toward fixing plenty issues wey dey plague Nigeria’s financial system. We all go sabi sey if this one work well, e go make agents and customers trust the system more. Na so we dey hope sey everybody go carry their heads come together to make this one work, and we no go see am as wahala but as way to grow better business in Naija.