by Idris Ahmed
culled from: http://allafrica.com/stories/201112280513.htmlThe Central Bank of Nigeria (CBN) has disowned telecommunication companies carrying out advertisement on behalf of mobile payments scheme operators, saying no telecommunications company has been licensed to operate any mobile money scheme in Nigeria.
It said in a circular issued by its acting Director, Banking & Payments System Department, G.I Emokpae, that on no account should any mobile network operator be allowed to advertise on behalf of any scheme operators or tie the operation of their system to any network.
"Failure to adhere to this directive will attract appropriate sanction and could lead to withdrawal of already granted licence. Customers should be allowed to operate the mobile system from any telecommunication network of their choice," it said.
The circular said that CBN acknowledged the critical roles the telecommunication operators can play in mobile money scheme, but "such responsibilities should be based on criteria which are transparent and generally applicable to all scheme operators without discriminatory practices against any scheme operator."
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