The National Council on Privatisation (NCP) has approved the handover of the Nigerian Telecommunications Limited (NITEL) and its mobile arm, Nigerian Mobile Telecommunications (MTEl) to NATCOM.
This is even as it winds down its activities for the administration, taking stock of all it has done during its tenure in this government.
The handover was approved at the council’s 1st meeting for the year, 2015 and the last for this administration which held at the vice president’s wing of the Presidential Villa.
National Telecommunication Commission (NATCOM) consortium, preferred bidder of NITEL and its mobile arm, MTEL, had last week completed its outstanding 70 percent payment of the $252,521,000 bid price for the acquisition of the assets and business units of the enterprises, being $176,575,700 (N29,696,469,600) .
