Major Shake-Up: CBN’s New Rule Means You Can Only Keep ONE PoS Terminal

Attention PoS Operators: The Agent Banking Landscape is Changing. Here’s What You Must Know to Stay Compliant.

For years, PoS operators have been the backbone of Nigeria’s digital financial revolution, often juggling terminals from multiple providers—be it Moniepoint, OPay, PalmPay, or traditional banks. This multi-platform approach allowed agents to serve virtually every customer.

However, the Central Bank of Nigeria (CBN) has just introduced its most significant regulatory overhaul since agent banking began in 2013, and it’s changing everything.

The Biggest Change: Exclusivity is the New Standard

Effective April 1, 2026, banking agents (PoS operators) are mandated to be exclusive.

What does this mean for you?

If you currently operate multiple terminals from different financial institutions, you will be required to choose just ONE principal. Your principal could be a commercial bank, a Mobile Money Operator (MMO), a Microfinance Bank (MFB), a Payment Service Bank (PSB), or a licensed Super Agent.

Simply put, holding an OPay terminal and a Moniepoint terminal at the same location will soon be a regulatory violation. You must consolidate your operations under a single umbrella.

Why the CBN is Making This Move

The CBN’s goal is not to hinder business but to ensure the stability and integrity of the financial system. The new rules are designed to achieve three key objectives:

1. Enhanced Oversight and Compliance: By limiting agents to one principal, the CBN is making it easier to track and enforce operational guidelines, including the new ₦1.2 million daily withdrawal limit.
2. Improved Service Quality: The exclusivity rule encourages principals to invest more in their dedicated agent network, leading to better training, faster support, and improved service for customers.
3. Security and Transparency: The CBN is intensifying its fight against fraud by requiring principals to monitor agent activities closely.

Three Mandatory Actions Agents Must Take

Avoid blacklisting, prosecution, or termination. Here are the three critical compliance areas you must address before the April 2026 deadline:

1. Choose Your Principal Wisely

You have six months to decide which institution offers you the best service, rates, and support. Once you choose your principal, you must return or cease operations on all other terminals.

2. Dedicated Agent Accounts are Mandatory

All your PoS transactions—inflows and outflows—must now be conducted through a dedicated agent account or wallet maintained with your chosen principal institution. Do not use your personal account (monitored via your BVN) for agent activities outside of this designated account; doing so constitutes a regulatory breach

3. Record Keeping and Reporting

You must maintain accurate records of all transactions. Crucially, you must promptly report any suspicious transactions or incidents to your principal. The CBN has made it clear it can now bypass principals and ask you, the agent, directly for your records at any time.

Your Next Steps

This is a significant shift, but it presents an opportunity to streamline your business and build a stronger, more compliant relationship with a single principal.

1. Review and Select: Evaluate your current principals (banks, fintechs) and choose the one that provides the most reliable service and highest returns for your business.
2. Communicate: Discuss the new exclusivity requirement with your chosen principal to ensure they have updated systems and support in place for the transition.
3. Prepare for Audit: You must put your records in order to ensure all transactions are routed through the correct, dedicated business account.

How EasyBalance Can Help

At EasyBalance, we understand that this new rule may disrupt how agents manage multiple POS accounts. That’s why EasyBalance is here to help you stay organized and compliant.

With the EasyBalance app, you can:

1. Track all daily transactions from one dashboard.
2. Manage multiple business locations easily.
3. Record agent activities and generate reports automatically
4. Stay transparent, compliant, and in control of your business records.

Change can be tough — but with the right tools, it’s a chance to grow stronger and smarter.

The CBN is committed to maintaining the stability of the financial system, and every agent is now a front-line partner in this effort. Stay informed, stay compliant, and secure your business future.

Stay transparent, compliant, and in control of your business records

 

 

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