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Nigeria: Circular on migration and mandatory terminal geo-tagging (Circular No. PSS/DIR/PUB/CIR/001/001)

Progress

Current status
in force
31 Oct 2025 in force
24 Oct 2025 in grace period
25 Aug 2025 adopted

Scope

Implementers
Nigeria
Policy Area
Design and testing standards
Policy Instrument
Interoperability requirement
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Government Branch
executive
Government Body
central bank
Implementation Level
national

Timeline of events

31 Oct 2025
in force

Circular on migration and mandatory terminal geo-tagging enters into force

On 31 October 2025, the obligations under the Circular on migration and mandatory terminal geo-tagging enter into force. The Circular requires all licensed operators within Nigeria’s payments ecosystem, including Deposit Money Banks (DMBs), Microfin…

Source
Event type order
Action type implementation
Government branch executive
Government body central bank
24 Oct 2025
in grace period

Obligation under Central Bank's circular requiring all payment terminals to be geo-tagged and equipped with native geolocation capabilities enters into force

On 24 October 2025, the obligation under the Central Bank of Nigeria (CBN) circular requiring all payment terminals to be geo-tagged and equipped with native geolocation capabilities using dual-frequency Global Positioning System (GPS) receivers ent…

Source
Event type order
Action type in force with grace period
Government branch executive
Government body central bank
25 Aug 2025
adopted

Central Bank issued Circular mandating ISO 20022 migration and terminal geo-tagging

On 25 August 2025, the Central Bank of Nigeria (CBN) issued circular No. PSS/DIR/PUB/CIR/001/001 mandating all Deposit Money Banks (DMBs), Microfinance Banks (MFBs), Mobile Money Operators (MMOs), Switching and Processing Companies (SPCs), Payment T…

Source
Event type order
Action type adoption
Government branch executive
Government body central bank