The Central Bank of Nigeria has issued a directive requiring all banks, financial institutions, acquirers, and payment service providers to implement mandatory dual connectivity for point‑of‑sale (PoS) transactions within the next month. This measure aims to curb the persistent downtime of PoS machines that results from reliance on a single transaction channel. In a circular dated December 11, 2025, signed by the Director of Payments System Supervision, Rakiya Yusuf, the new requirement updates an earlier directive issued in September 2024.
The policy obliges acquirers, processors, and payment terminal service providers to maintain active connections with both the Nigeria Inter‑Bank Settlement System (NIBSS) and Unified Payment Services Limited (UPSL). By establishing this dual‑connectivity framework, dependence on a single aggregator will be reduced, strengthening the stability of the nation’s electronic payment infrastructure. To ensure full compliance, the bank has mandated regular redundancy and failover tests. NIBSS and UPSL must work with regulated institutions to verify that systems can maintain uninterrupted service, and the test results will form part of the Central Bank’s supervisory review.
The circular also introduces tighter reporting obligations. Institutions must notify the Payments System Supervision Department immediately of any downtime and submit a detailed incident report within 24 hours. This directive is part of broader efforts to improve the efficiency and reliability of Nigeria’s payment systems.
The announcement comes just a week after the Corporate Affairs Commission ordered unregistered PoS operators to register or face shutdown and warned fintech companies against sharp practices. Implementing dual PoS connectivity is expected to enhance the overall stability of Nigeria’s financial system, reduce the frequency of PoS downtime, and support financial inclusion initiatives. The Central Bank’s directive underscores the regulator’s commitment to addressing challenges in the country’s payment ecosystem and to building a more robust, reliable digital payments infrastructure.
Comments are closed for this story.