The C entral Bank of Nigeria (CBN) has banned telecommunication
companies from advertising on behalf of mobile money operators, the
newspaper Vanguard newspaper reported online. The CBN said it had not
licensed any telecoms operators in the country to operate a mobile money scheme and advertising on behalf of the mobile payments operators sent the wrong signals to the public. The CBN directed that henceforth, mobile network operators must not advertise on behalf of any m-money operators or tie the operation of their system to any network. It said customers should be able to operate the mobile payment system from any telecommunication network of their choice. Breach of this directive would attract sanctions and could lead to licence withdrawal, it warned.
licensed any telecoms operators in the country to operate a mobile money scheme and advertising on behalf of the mobile payments operators sent the wrong signals to the public. The CBN directed that henceforth, mobile network operators must not advertise on behalf of any m-money operators or tie the operation of their system to any network. It said customers should be able to operate the mobile payment system from any telecommunication network of their choice. Breach of this directive would attract sanctions and could lead to licence withdrawal, it warned.
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