Circular to All Mobile Scheme Operators

09-46238455 (Fax) 09-46238445 Tel CENTRAL BANK OF NIGERIA Central Business District P.M.B. 0187 Garki, Abuja Ref: BPS/PSP/GEN/CIR/02/004 December 22, 2011 TO: ALL MOBILE PAYMENTS SCHEME OPERATORS CIRCULAR TO ALL MOBILE SCHEME OPERATORS It has come to the attention of the Management of Central Bank of Nigeria that Mobile Network Operators (Telecommunication Companies) have been carrying out public media advertisement on behalf of Mobile Payments Scheme Operators thereby sending wrong signals to the public as well as causing disaffection among the Scheme Operators. This is totally unacceptable.

For the avoidance of doubt, no Telecommunications Company (Telcos) had been licensed by the Central Bank to operate any mobile money scheme in Nigeria. However, the Bank is not unmindful of their critical roles, and hence the explicit assignment of responsibilities to them in the Regulatory Framework for Mobile Payments Services as infrastructure providers. Such responsibilities should be based on criteria which are transparent and generally applicable to all Scheme Operators WITHOUT DISCRIMINATORY PRACTICES AGAINST ANY SCHEME OPERATOR.

TRAL PANK OF SIGER In order to build and sustain public confidence in the mobile payments scheme, it is hereby directed that henceforth, 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. Customers should be able to operate the mobile payment system from any telecommunication network of their choice.

Failure to adhere to this directive will attract appropriate sanctions and could lead to withdrawal of already granted licence.

Ag. Director, Banking & Payments System Department