Nigeria’s central bank just dropped new rules that’ll change how agent banking works, making things stricter for the POS guys. These rules make agent banking safer, clearer, and better for getting more people into the financial system. That is, you can only work with one bank or fintech company.
Therefore, starting April 1, 2026, a POS agent will only work with one financial institution. This special rule helps stop scams, keeps a closer eye on things, and makes sure everyone knows who’s responsible.
What’s New in the CBN Rules for POS Agents
Agents can still do things like deposits, withdrawals, transfers, and bill payments, even with the new setup. But the job of super agents has changed. They can’t work as agents too. Their job is to supervise the networks, not to handle transactions.
Each agent has to be connected to one principal, usually a bank, and one super agent. However, super-agents can have many clients. This new setup, the CBN says, will make it easier to know who’s in charge and stop things from getting confusing and breaking the rules.
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Agents need to meet tougher standards.
The rules for agents to join are now stricter. You can’t have any loan defaults in the past year, a criminal record, or a blocked BVN. They can’t just wander around; they need a base, like a shop or kiosk.
Plus, agent banking needs to be totally separate from the rest of the business. For instance, if a store is an agent, it needs to keep sales and banking separate.
To keep customers safe, the CBN tells banks to be fair to all cards and show all fees clearly. Make sure agents have their bank or super agent’s name, logo, service list, and complaint contact info visible.
New Roles and Transaction Limits
There’s a new type of participant now: Payment Terminal Service Aggregators (PTSAs). PTSAs are to register and finding the location of every POS terminal in the country to help monitor devices and fight fraud.
They’ve also set daily and weekly spending limits to help manage risk. You can send or receive up to ₦100,000 daily or ₦500,000 weekly if you’re a customer, while agents can cash out a maximum of ₦1.2 million per day.
Enforcement and Impact
The CBN can give fines, check up on, or cancel licenses for rule breakers. Banks or big agents who don’t watch their systems could get shut down.
The CBN’s new rules are a big move to control Nigeria’s agent banking, according to analysts. Even though some POS operators might have a problem with it, regulators say it will help make digital finance safer, protect consumers, and keep people accountable.
