The Central Bank of Nigeria (CBN) has introduced a new operational guideline mandating Point-of-Sale (PoS) agents across the country to conduct transactions strictly within 10 metres of their officially registered business addresses.
The directive, announced on Tuesday, is aimed at curbing overcrowding of PoS operators in high-traffic areas and promoting equitable access to financial services across underserved communities.
According to the CBN, the clustering of agents in commercial hotspots has led to unhealthy competition and left many neighbourhoods without adequate financial access.
The new rule seeks to encourage a more balanced distribution of agents, ensuring that residents in less populated areas are not excluded from essential banking services.
While some PoS operators have expressed concern that the restriction may reduce foot traffic and impact earnings in busy zones, others see it as an opportunity to expand into untapped markets and build stronger customer relationships in areas previously overlooked.
The apex bank emphasized that the policy is part of broader efforts to deepen financial inclusion and improve operational efficiency within Nigeria’s payment ecosystem.
Industry observers say the move could spur innovation among fintech companies, prompting investment in mobile infrastructure and alternative service delivery models tailored to both urban and rural environments.
The CBN has urged stakeholders to comply with the new regulation and explore ways to adapt their business strategies to align with the evolving financial space.
