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CBN Extends PoS Geo-Fencing Compliance Timeline

CBN Extends Deadline for Mandatory PoS Geo-Fencing Compliance

The Central Bank of Nigeria (CBN) has extended the implementation deadline for mandatory geo-fencing of Point-of-Sale (PoS) terminals to 1 August 2026, providing regulated financial institutions with additional time to comply with the revised requirements.

Under the updated framework, the permissible geo-fence radius has been increased from 10 metres to 70 metres, reflecting operational realities while maintaining the CBN's objective of strengthening oversight within the digital payments ecosystem. The geo-fencing requirement is designed to improve the traceability of PoS transactions, reduce fraud risks, and enhance regulatory monitoring of payment service activities across the country.

Affected institutions, including banks, payment service providers, mobile money operators, and other stakeholders within the payments value chain, are expected to complete the necessary system upgrades and submit evidence of compliance before the revised implementation deadline.

The development highlights the CBN's continued focus on promoting transparency, security, and accountability within Nigeria's rapidly expanding digital payments sector.

NDPC and Meta Launch Two-Year Data Protection Initiative

NDPC and Meta Partner to Strengthen Data Protection Awareness and Compliance

The Nigeria Data Protection Commission (NDPC) and Meta have launched a two-year collaborative initiative aimed at advancing data protection awareness, promoting privacy best practices, and strengthening compliance within Nigeria's digital ecosystem.

The initiative is expected to focus on stakeholder engagement, capacity building, regulatory awareness, and the promotion of responsible data processing practices among businesses, technology platforms, and data controllers operating in Nigeria. It also reflects the increasing importance of data governance as organizations continue to expand their digital operations and leverage personal data for business purposes.

The collaboration comes at a time when regulatory scrutiny around privacy rights, lawful processing, cross-border data transfers, and accountability obligations continues to grow. As a result, organizations that process personal data should continue to review their data protection frameworks, internal policies, and governance structures to ensure compliance with the requirements of Nigeria's data protection regime.

The initiative further demonstrates the NDPC's commitment to fostering a culture of privacy and accountability while supporting innovation within the digital economy.

SEC Postpones Q2 2026 Pre-Registration Training and Examination for Capital Market Operators

SEC Announces New Dates for Q2 2026 Capital Market Operator Examination

The Securities and Exchange Commission (SEC) has announced the postponement of its Q2 2026 Pre-Registration Training and Examination for prospective Capital Market Operators (CMOs). According to the Commission, the programme will now commence on 15 June 2026, while the registration deadline has been extended to 12 June 2026.

The pre-registration training and examination process remains a key component of the SEC's regulatory framework for ensuring that individuals seeking registration as capital market operators possess the requisite knowledge, competence, and understanding of applicable regulatory requirements.

Prospective applicants and market participants are encouraged to take note of the revised timelines and ensure compliance with all registration and participation requirements within the stipulated period.

The postponement reflects the Commission's ongoing efforts to facilitate effective participation while maintaining the professional and regulatory standards required within Nigeria's capital market.