In a bold move to tighten financial monitoring and enhance transparency, the Central Bank of Nigeria (CBN) has issued a 30-day deadline to Point of Sale (PoS) operators, mandating stricter transaction tracking measures.
This development was announced on the official X (formerly Twitter) handle of Nigerian Stories, sending ripples through the financial sector and the burgeoning PoS business landscape. The CBN’s directive is part of ongoing efforts to curb illicit financial flows and ensure compliance with regulatory standards.
Many industry stakeholders and financial analysts are already sharing their thoughts on this move. Some praise the CBN’s decisive action to safeguard the financial system, while others express concerns over the impact this might have on small-scale PoS operators who could struggle with compliance.
What do you think? Will this initiative bring the much-needed transparency in the PoS business, or will it create additional hurdles for operators in an already challenging economic environment?
Stay tuned for more updates as the deadline looms.
PIONEER NEWS 