With N27mn each, Cobranet, Swiftnework win NCC’S 5.4GH auction for 2 slots

Following the bid for 5.4 gigahertz (GH) broadband spectrum for network deployment by the Nigerian Communications Commission (NCC), for Lagos State slots after 11 round bidding process, two winners – Cobranet and Swift Network have emerged winners at the price of N27,659,347.10 each.
With this development, NCC has attracted N55,318,694.2 million into their coffers from the two slots sold to Cobranet and Swiftnetwork.
It would be noted that the 5.4Gh was bided for by six companies, Swift Networks, Cobranet, Tiezeti Network, E-Kennet, Steam Broadcasting and Juniper Solutions, had Steam Broadcasting exiting the bid first in the sixth round at an exit bid of N20,620,500.00 against the fixed price of N20,686,739.37.
Also, five contenders stayed on to the seventh round at a fix price of N21,721,760.34 at 5 percent increase on the sixth round, which after the bid, Juniper Solutions drops with an exit bid of N21,000,100.00.
Four contenders bided at the 11th round at a fixed price of N27,659,347.10, which is 10 percent increase from round 11 of which E-Kennet gave an exit bid of N25,144,861.00 and Tizeti gave an exit bid of N26,400,000.00.
Furthermore, the exit bid by the other two contenders, left Cobranet and Swift Networks winning one lot each at the fixed price of N27,659,347.10
While giving further instructions to emerged winners, Ubale Maska, the auction overseer, and the executive commissioner, technical services, NCC, said the winners were provisionally awarded the slots and had till January 5 to pay up the remaining sum of N25,784 347.00 after their initial intention to bid deposit of N1,875 000.00.
Speaking on behalf of the winners, the CEO of Swiftnetwork, Charles Anudu, lauded the transparent manner they conducted the exercise, pledging to use the medium to increase the broadband penetration in the country.
In his own submission, CEO of Juniper Solutions, Gboyega Ojuri, said although the company did not win a slot, he was satisfied with the transparency in the conduct of the exercise.