The Central Bank of Nigeria (CBN) has announced a maximum limit of N1.2 million for Point of Sale (POS) transactions, effective immediately. The new guideline, revealed on Monday, October 7, 2025, aims to enhance financial security and transaction monitoring across the country.
According to the CBN, the measure is part of broader efforts to strengthen payment systems, reduce fraud, and ensure transparency in electronic transactions. The directive applies to all banks, financial institutions, and POS operators nationwide.
Industry experts note that while the cap may curb large-scale fraud, some consumers and businesses have expressed concerns over limitations on daily cashless transactions, particularly for merchants dealing in high-value goods.
