The Central Bank of Nigeria (CBN) has unveiled new operational guidelines for agent banking, introducing stricter limits aimed at enhancing transparency and curbing financial abuse within the system. Under the new framework, Point-of-Sale (POS) agents are now restricted to a ₦1.2 million daily transaction cap, while individual customers face a ₦100,000 daily transaction limit.

According to the apex bank, the revised policy seeks to strengthen consumer protection, reduce fraud risks, and ensure better compliance with anti-money laundering (AML) and Know-Your-Customer (KYC) regulations. The guidelines also mandate stricter record-keeping, agent registration, and real-time transaction monitoring across all financial service platforms.

The new directive, which takes immediate effect, signals the CBN’s determination to streamline Nigeria’s fast-growing agency banking sector, ensuring that digital and cash-based transactions remain secure, traceable, and aligned with national financial inclusion goals.

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