Central Bank of Nigeria has released a new directive to Payment Service Providers, requiring them to comply with enhanced routing guidelines for Point of Sale (POS) transactions.

A circular by Oladimeji Taiwo on behalf of the CBN’s Payments System Management Department, which says the move is aimed at strengthening the monitoring of electronic transactions across Nigeria, also indicated a 30-day deadline requiring service providers to comply with enhanced routing guidelines for Point of Sale transactions. 

In a circular, the apex bank mandates that all PoS transactions from merchant and agent locations—whether physical or electronic—must now be routed through any CBN-licensed Payment Terminal Service Aggregator structure.