NIBSS Orders PTSPs to Recertify Ahead of CBN Geotagging Deadline
The Nigeria Interbank Settlement System (NIBSS) has directed Payment Terminal Service Providers (PTSPs) to begin recertification ahead of the Central Bank of Nigeria’s (CBN) October 31, 2025, deadline for the geotagging and geofencing of all point-of-sale (PoS) terminals nationwide.
NIBSS, which oversees interbank settlements, electronic funds transfer, and terminal oversight across the country, said the recertification is to ensure compliance with the CBN’s directive designed to strengthen transparency and security in Nigeria’s fast-growing payments industry.
The CBN had, in a recent circular signed by Dr Rakiya Yusuf, Director of the Payments System Supervision Department, mandated all operators in the payments ecosystem to migrate to the ISO 20022 messaging standard and geotag all PoS terminals by the deadline. Existing terminals must be geo-tagged within 60 days, while new terminals are to be tagged before certification and activation.
According to the circular, compliance validation exercises will begin on October 20, 11 days before the final deadline. The directive, the CBN added, aligns with global standards under the Society for Worldwide Interbank Financial Telecommunications (SWIFT).
In line with the directive, NIBSS said it had introduced the National Central Switch (NCS) SDK to monitor and enforce compliance while boosting transaction security and improving operational efficiency.
The recertification will enable geofencing, real-time alerts against violations, accurate location tracking, and enhanced customer trust through secure, location-aware services.
All PTSPs are required to apply for recertification on the NIBSS Sandbox, integrate the SDK into PoS applications, deploy updated SDKs nationwide, and validate geofencing features.
Acquirers must also update all new and existing terminals with merchant details via Geolocation APIs or the NIBSS Contact Centre. Merchants are expected to strictly adhere to certified terminal usage guidelines.
It was, however, gathered that PTSPs are expected to complete recertification with NIBSS by the end of September, ahead of the October 20 validation exercise. The 21 days from October 1 to October 20 will serve as a buffer for PTSPs to finalise post-recertification processes and avoid last-minute compliance issues.
