Central Bank of Nigeria has restricted Point of Sales agents to a daily transaction limit of N1.2 million.

In a circular signed by its Director, Payments System Management Department, Oladimeji Taiwo, the CBN said the development is to advance a cashless economy and enhance the use of electronic payment channels for agency banking operations.

As of July 2024, Nigeria had 3.05 million deployed PoS and 4.06 million registered PoS terminals.

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