A fresh phase has begun in Nigeria’s agent banking system after the Central Bank of Nigeria rolled out new guidelines on April 1, 2026, to regulate Point of Sale operations and financial service providers.

The move is aimed at improving how millions of Nigerians access and use everyday financial services through PoS agents.

Agent banking has grown into an important part of daily transactions across the country.

Many people depend on PoS operators for cash withdrawals, transfers, and bill payments.

With the new policy, the system is being reshaped to make services more secure, stable, and easier to trust.

One major change introduced is that each PoS agent is now required to operate under only one financial institution.

Previously, agents could use multiple terminals from different providers to avoid downtime or compare service quality.

Under the new rule, agents must now settle for a single provider, making their choice more critical to their business success.

The updated guidelines also introduce stricter structure to operations.

Agents are now expected to use dedicated accounts, follow set transaction limits, and carry out their work from approved locations with properly registered devices.

These measures are designed to reduce fraud, improve monitoring, and create a more organised system.

For customers, the changes are expected to bring safer and smoother transactions.

The aim is to ensure that sending or receiving money through PoS becomes faster, more reliable, and less prone to errors, giving users greater confidence in the service.

With the new rules in place, PoS agents are now faced with the decision of choosing a provider that can meet their needs under tighter conditions.