The Central Bank of Nigeria has introduced new operational guidelines for agent banking across the country, capping daily cumulative transactions per agent at N1.2 million. The revised framework, released on Monday, also mandates all financial institutions to submit monthly reports on the activities of their Point-of-Sale agents to enhance oversight and service quality. The Circular…
The Central Bank of Nigeria has directed that all Point of Sale (PoS) terminals in the country be geo-tagged within 60 days as part of measures to curb fraud and strengthen oversight of digital payments. “This initiative is designed to ensure that all PoS terminals are traceable and that transactions are secure. Terminals operating outside…
The Delta State Police Command has issued a stern warning to Point of Sale (PoS) operators, cautioning them against facilitating large transactions, particularly amounts exceeding N500,000. According to the Command public relations officer, SP Bright Edafe, such transactions could potentially involve criminal activities, leading to legal consequences. This warning was highlighted in a developing case…