The Central Bank of Nigeria (CBN) has introduced new regulations for agent banking operations, popularly known as Point of Sale (POS) services, across the country.

According to a circular signed by Musa Jimoh, the CBN’s Director of Payments System Management Department, the apex bank has set new transaction limits, capping daily POS transactions at ₦1.2 million per agent and ₦100,000 per individual.

The new rules, aimed at curbing misuse, strengthening financial integrity, and protecting consumers, form part of broader reforms to enhance Nigeria’s agent banking system and promote financial inclusion.

The CBN also directed all financial institutions to publish the list of their registered POS agents on their official websites and display them in their branches for transparency.

The guidelines are effective immediately, while specific provisions — including agent location and exclusivity rules — will take effect from April 1, 2026.

According to the circular,

“The Guidelines aim to establish minimum standards for operating agent banking in Nigeria, promote responsible market conduct, and improve service quality in agent banking operations.”

Industry observers say the move could help reduce fraudulent activities and improve accountability in the booming POS sector, which has become vital for financial access in both rural and urban areas.