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The POS Operators and Allied Informal Financial Workers Union of Nigeria (PAFWUN) strongly condemns the recent regulation introduced by the Central Bank of Nigeria (CBN), which restricts Point-of-Sale (POS) operators to the use of only one terminal, effective from April 1, 2026.
This policy is not only ill-conceived but also deeply anti-poor. It represents a direct attack on the livelihoods of hundreds of thousands of small-scale operators who depend on POS services to survive in an already harsh economic climate. At a time when unemployment, inflation, and economic hardship are at alarming levels, this regulation threatens to push many Nigerians further into poverty.
POS operators play a critical role in bridging the gap created by the inefficiencies in the formal banking system. Across urban and rural communities, they provide essential financial services where traditional banks have failed, ensuring access to cash, transfers, and basic transactions for millions of Nigerians. Limiting operators to a single terminal will drastically reduce our members capacity to serve customers, disrupt our businesses, and create unnecessary bottlenecks in financial access.
For many operators, multiple terminals are not a luxury but a necessity. Different terminals are used to navigate network failures, ensure service reliability, and meet the demands of diverse customers. The CBN’s directive ignores these practical realities and instead imposes a blanket restriction that will cripple productivity and reduce incomes.
We view this regulation as part of a broader pattern of policies that disproportionately target the informal sector, the very backbone of Nigeria’s economy, while failing to address the structural problems within the banking system. Rather than punishing small operators, the CBN should focus on strengthening financial infrastructure, regulating commercial banks, and ensuring stable and accessible financial services for all. If the CBN is truly interested in the regulation of operators, no operators without BVN and NIN that alone is enough to track any fraud.
Our Demands:
1. Immediate suspension of the one-terminal restriction policy.
2. Open consultation with POS operators and informal financial workers before implementing any regulation affecting their livelihoods.
3. Development of inclusive policies that support, rather than undermine, financial access and job creation.
We call on the Nigerian public, civil society organizations, and labour movements to reject this unjust policy. We are prepared to mobilize and take collective action to defend our right to work and survive.
This is not just about POS operators it is about protecting millions of Nigerians who rely on informal financial systems in the face of a failing economy.
Signed:
Salako Kayode
General Secretary
POS Operators and Allied Informal Financial Workers Union of Nigeria