The Central Bank of Nigeria, CBN has given a 60 days deadline to Point of Sales terminals in the Country to be geo-tagged or will be shut down. This is another bold step taken by the apex bank to curb incessant cases of fraud against some of the terminals. “This initiative is designed to ensure that all PoS terminals are traceable and that transactions are secure. Terminals operating outside their registered location will be flagged, and non-compliant devices will be deactivated.” This is contained in a statement issued on Tuesday…
FRAUD CONTROL: GEOTAG WITHIN 60 DAYS OR FACES SHUT DOWN, CBN TELLS PoS TERMINALS
