The Central Bank of Nigeria (CBN) has introduced new regulations for agent banking operations across the country, setting transaction limits for Point of Sale (POS) agents and customers.
According to a circular signed by Musa Jimoh, Director of the Payments System Management Department, each POS agent can process a maximum of ₦1.2 million in transactions per day, while individual customers are limited to ₦100,000 daily.
The guidelines, which take effect immediately, aim to promote financial inclusion, ensure responsible market conduct, and improve service quality in agent banking operations.
Don’t Miss This: U.S. Deportation Flight Carrying Second Batch of Asian Migrants Lands in South Africa
However, the implementation of agent location and exclusivity rules will begin on April 1, 2026.
CBN also directed all financial institutions to publish and display the full list of their registered POS agents on their websites and within their branches.
“These limits are designed to curb misuse, strengthen financial integrity, and protect consumers within the agent banking framework,” the circular stated.
