TUE OCT 07 2025-theGBJournal| The Central Bank of Nigeria (CBN) has updated its guidelines for agent banking operations in Nigeria
The new guidelines released on Monday, sets a new limit on total daily transaction for an agent at N1.2 million, and requires every financial institution to provide detailed monthly reports on the operations of their Point-of-Sales (PoS) agents.
The CBN said it may vary or amend the transaction limits specified from time to time for each service in line with the extant CBN Guide to Charges for Banks and Other Financial Institutions in Nigeria.
”Any device deployed to an Agent or utilised by an Agent in carrying on Agent banking services shall be geo-fenced or tagged to operate within the agreed registered Agent premises or location,” the CBN said in the guidelines document.
The CBN warned that it may blacklist a Principal or Super Agent whose Agents persistently breach regulations from operations of Agent banking services, and impose a fine of not less than N5 million for the offence and N300,000 for each day that the default persists.
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