CBN Issues New Guidelines for Agent Banking Operations in Nigeria
The Central Bank of Nigeria (CBN) has released a new set of guidelines to regulate agent banking operations across the country.
The circular, signed by Musa Jimoh, Director of the Payments System Policy Department, was addressed to all deposit money banks, other financial institutions, and payment service providers.
According to the new framework, which takes immediate effect, Point of Sale (POS) agents are now restricted to a maximum of ₦1.2 million in daily transactions, while individual customers can only conduct transactions up to ₦100,000 per day.
The CBN added that provisions relating to agent location and exclusivity will take effect from April 1, 2026, giving operators time to adjust to the new compliance standards.
The apex bank said the measure is part of ongoing efforts to strengthen consumer protection, combat fraud, and ensure a more transparent and efficient agent banking ecosystem.
