The Central Bank of Nigeria (CBN) has issued a stern one-month deadline to Point of Sale (POS) operators across the country, mandating them to integrate dual network connectivity or risk severe regulatory sanctions. The directive, announced on Thursday, aims to bolster the resilience of Nigeria’s digital payment ecosystem against network disruptions and escalating fraud risks, as the nation grapples with a surge in electronic transactions.
In a circular signed by CBN’s Director of Payment Systems Management, ‘Dimeji Abimbola, the apex bank directed all POS deployers and terminal service providers to ensure their devices support connectivity across multiple mobile network operators (MNOs). “Effective from January 12, 2026, all new and existing POS terminals must be capable of seamless switching between at least two MNOs to guarantee uninterrupted service delivery,” the circular stated emphatically.
The policy emerges against the backdrop of persistent network outages that have plagued major telecom providers like MTN, Airtel, and Globacom, often leaving millions of POS transactions stranded during peak trading hours. Industry data from the Nigeria Inter-Bank Settlement System (NIBSS) reveals that POS transaction volumes hit an all-time high of over 1.5 billion in Q3 2025, representing a 45% year-on-year growth. However, analysts attribute frequent downtimes to over-reliance on single networks, exacerbating vulnerabilities in a market where POS agents handle upwards of N30 trillion in annual remittances.
CBN’s move is also a direct response to mounting cybersecurity threats. Recent reports from the Economic and Financial Crimes Commission (EFCC) highlight a 300% spike in POS-related fraud cases in 2025, including “network fishing” scams where criminals exploit outages to intercept transactions. “This directive is non-negotiable. POS operators must comply within 30 days, failing which the CBN will invoke its full regulatory powers, including terminal deactivation and fines,” Abimbola warned in the circular.
Reacting to the development, the Association of Mobile Money and Payment Service Providers (AMMAPS) welcomed the ultimatum but raised concerns over implementation costs. AMMAPS President, Mr. Emefiele Okonjo, stated: “While we support measures to enhance system stability, the retrofitting of over 2 million existing POS terminals could impose significant financial burdens on small-scale agents, many of whom operate on razor-thin margins. We urge the CBN to provide clear guidelines on subsidies or phased compliance.”
Technology experts echoed these sentiments, pointing to the technical feasibility of dual-SIM POS devices already available from manufacturers like Pax and Verifone. “Modern POS hardware supports multi-SIM slots natively, with failover switching in under 10 seconds. The real challenge is software updates and operator training,” said Dr. Chika Nwosu, a fintech consultant and former CBN advisor. He added that non-compliance could trigger a “domino effect,” disrupting remittances in underserved rural areas where POS serves as the primary cash-out channel.
The CBN’s timeline aligns with broader reforms under Governor Olayemi Cardoso’s administration, which has prioritized payment system integrity following the 2023 cybersecurity breaches that cost the sector over N10 billion. Sources within the regulator indicate that enforcement teams will commence audits from mid-January, targeting high-volume operators in Lagos, Abuja, and Port Harcourt.For POS agents like Aisha Mohammed, a vendor in Lagos’ bustling Computer Village market, the directive spells both opportunity and anxiety. “We’ve lost customers during MTN outages before. Dual connectivity will keep business flowing, but upgrading my five machines will cost at least N150,000. Where do we get that from?” she lamented.As the deadline looms, stakeholders are calling for stakeholder engagements to mitigate disruptions. The CBN has promised further clarifications via its website and social media handles, emphasizing that “a robust, resilient payment infrastructure is key to Nigeria’s cashless economy ambitions.”
This policy underscores the CBN’s aggressive push towards digital financial inclusion, but its success will hinge on balancing innovation with the realities of Nigeria’s fragmented telecom landscape.
