Business Briefs
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IN line with Information Memorandum on the auction of 70 MHz in the 2.6 GHz Spectrum Band published on February 25, the Nigerian Communications Commission, on behalf on the Federal Government of Nigeria, wishes to announce that the auction process, which closed for submission of applications on April 29, produced one Qualified Bidder.
The Qualified Bidder expressed an interest to bid for Six (6) Lots out of the Fourteen (14) Lots on offer and paid the bid deposit as specified by the Information Memorandum on the Auction.
Therefore, the need for an auction event no longer arose as the IM, stated that “If the aggregate demand from Approved Bidders is less than, or equal to the number of lots on offer, the Commission will provisionally award the license to the party/parties at the reserve price”.
Consequently, the Commission is currently undertaking a due diligence with a view to issuing a letter of award of license for the cumulative 30MHz in the 2.6GHz Frequency.
Upon approval, the Qualified Bidder will be required to pay a total US$96,000,000 (Ninety Six Million US Dollars) for the license.
The Commission wishes to express its profound gratitude to all telecom stakeholders for the interests shown in the auction process for the 2.6GHz Spectrum Band, according to a statement issued by Tony Ojobo, director, Public Affairs
— May 30, 2016 @ 01:00 GMT
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