Telcos disagree with CBN, push to lead mobile money The Punch Published 22 July 2021 Stakeholders in the telecommunication sector have said mobile money services should be driven by telecoms companies, a position that runs contrary to that of the Central Bank of Nigeria. In its recently released ‘Regulatory Framework for Mobile Money Services in Nigeria’, the CBN said there shall be only two models for the implementation of mobile money services in Nigeria. They are the bank-led, where a bank and/or its consortium will serve as the lead initiator; and the non-bank-led, where a corporate organisation duly licensed by the CBN will serve as the lead initiator.