{"id":74304,"date":"2025-08-27T09:15:44","date_gmt":"2025-08-27T09:15:44","guid":{"rendered":"https:\/\/abujacityjournal.com\/livenews\/?p=74304"},"modified":"2025-08-27T09:15:44","modified_gmt":"2025-08-27T09:15:44","slug":"cbn-orders-mandatory-geo-tagging-of-pos-terminals-sets-deadline-for-iso-20022-migration","status":"publish","type":"post","link":"https:\/\/abujacityjournal.com\/livenews\/2025\/08\/27\/cbn-orders-mandatory-geo-tagging-of-pos-terminals-sets-deadline-for-iso-20022-migration\/","title":{"rendered":"CBN Orders Mandatory Geo-Tagging of PoS Terminals, Sets Deadline for ISO 20022 Migration"},"content":{"rendered":"<p><strong>By Omoniyi David<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p>The Central Bank of Nigeria (CBN), has mandated the geo-tagging of all Point of Sale (PoS), terminals nationwide as part of efforts to combat fraud and enhance transparency in the electronic payment system.<\/p>\n<p>In a circular signed by Dr. Rakiya O. Yusuf, Director of Payments System Supervision, the apex bank directed that all new and existing PoS devices must be equipped with geolocation services using double-frequency GPS and registered with a Payment Terminal Service Aggregator (PTSA), with the accurate latitude and longitude of the merchant\u2019s business location.<\/p>\n<p>According to the directive, PoS terminals will only function within a 10-metre radius of their registered location.<\/p>\n<p>Devices not routed through a PTSA are prohibited from transacting, while Android version 10 has been set as the minimum operating system for operation. The bank also ordered that geo-location data must be captured for every transaction.<\/p>\n<p>\u201cAll existing terminals must be geo-tagged within 60 days, while new ones must be geo-tagged before certification and activation,\u201d the circular stated.<\/p>\n<p>Additionally, the CBN directed banks, mobile money operators, switching companies, super agents, and other licensed operators to fully migrate to the ISO 20022 messaging standard by October 31, 2025, in line with SWIFT\u2019s global timeline.<\/p>\n<p>Compliance checks will commence from October 20, 2025.<\/p>\n<p>The CBN explained that the migration will harmonise transaction data, strengthen transparency, and align Nigeria\u2019s payment system with international best practices.<\/p>\n<p>\u201cAll payment messages exchanged domestically or internationally must be formatted in ISO 20022,\u201d the bank warned, stressing that operators must provide accurate payer\/payee identifiers, merchant\/agent details, and complete transaction metadata.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Omoniyi David &nbsp; The Central Bank of Nigeria (CBN), has mandated the geo-tagging of all Point of Sale (PoS), terminals nationwide as part of efforts to combat fraud and enhance transparency in the electronic payment system. In a circular signed by Dr. Rakiya O. Yusuf, Director of Payments System Supervision, the apex bank directed [&hellip;]<\/p>\n","protected":false},"author":33,"featured_media":74305,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1718,172],"tags":[],"class_list":["post-74304","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-news"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/74304","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=74304"}],"version-history":[{"count":1,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/74304\/revisions"}],"predecessor-version":[{"id":74306,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/74304\/revisions\/74306"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/74305"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=74304"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=74304"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=74304"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}