CBN-2.webp
The Digest:

The Central Bank has introduced revised agent banking guidelines. The new framework caps daily cumulative transactions per Point-of-Sale agent at N1.2 million and mandates real-time processing to enhance oversight and consumer protection.

Key Points:
  • The CBN has set a daily cumulative transaction limit of N1.2 million per POS agent.
  • All agent banking transactions must be conducted through a dedicated account or wallet.
  • Financial institutions must submit detailed monthly reports on agent activities.
  • Agents are personally liable for misconduct and can be blacklisted for violations.
  • "Super Agents" must maintain a network of at least 50 agents across Nigeria's six geopolitical zones.
  • All transaction devices must be geo-fenced to operate only at registered locations.
  • The guidelines take immediate effect, with specific provisions on agent location effective from April 2026.
This regulatory push aims to bring structure and security to the agent banking ecosystem, a critical pillar of Nigeria's financial inclusion strategy. Rooted in the Storm.

Sources: The PUNCH

Tags: CBN, POS Agents, Agent Banking,