CBN Tightens Grip on POS Operations: Single Principal Rule for Agents by 2026
The Central Bank of Nigeria (CBN) has announced a significant shift in the operational landscape of Point of Sale (POS) agents, a critical component of Nigeria’s financial inclusion strategy. Starting April 1, 2026, POS agents will be mandated to partner with only one principal. This crucial directive, unveiled on October 6, 2025, is part of a broader initiative by the CBN to streamline and fortify the financial services sector, particularly for underserved communities across Nigeria.
Enhanced Financial Security and Accessibility
The CBN’s decision to limit POS agents to a single principal aims to bolster the safety and accessibility of financial services. This measure simplifies the regulatory framework by consolidating previous guidelines into a cohesive set of instructions. Although the rule regarding principal exclusivity doesn’t take effect until April 2026, the CBN has already implemented other elements of the new guidelines, signaling a comprehensive approach to financial sector reform. POS agents will continue to perform their core function of providing convenient access to financial services for customers.
The new regulation reflects the CBN’s dedication to improving financial inclusion and safeguarding the interests of Nigerian consumers and businesses.
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