Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Industries Tech News

NCC confirms Airtel as sole bidder for new 5G licence

Samson AkintarobySamson Akintaro
2 months ago
in Tech News
Airtel shareholders earn N300 billion on acquisition of new spectrum from NCC
Share on FacebookShare on TwitterShare on Linkedin

The Nigerian Communications Commission (NCC) has confirmed Airtel Nigeria as the only telecom operator ready to bid for the 3.5GHz spectrum licence for 5G deployment.

This comes after the telco became the first to pay the $27.36 million intention to bid deposit ahead of the auction slated for December 19.

A statement by the NCC, seen by Nairametrics, also noted that only two telecom companies expressed interest in the auction as of the stipulated deadline which was Monday, December 5, 2022. The telcos are Airtel and Standard Network & Connections Limited.

Note that the $27.36 million deposit is 10% of the reserve price for the spectrum fixed at $273.6 million. 

Plea for extension: The statement by the NCC further disclosed that Standard Network had pleaded for an extension of the deadline for paying the deposit. However, the regulator turned it down. 

“Only Airtel paid the Intention to Bid Deposit (IBD) as stipulated in the Information Memorandum (IM) whereas, Standard Network sent an email appeal for the deadline to be extended by twelve (12) working days which was not acceptable given the auction timetable,” the NCC said.

No more auction: Given the emergence of Airtel as the sole bidder, NCC said it won’t continue with the auction. Instead, it will assign one lot of the spectrum to Airtel. 

The implication of this is that Airtel will pay the reserve price of $273.6 million, the same amount paid by MTN and Mafab Communications in December last year.  

  • “Having met all the provisions in the IM, Airtel has, therefore, emerged as the sole Bidder. Consequently, there shall be no further bidding and the Commission will proceed to the Assignment Stage in line with the published Information Memorandum guiding the licensing process,” the Commission stated. 

 

 

Related

Tags: Airtel NigeriaNCC

Leave a Reply Cancel reply

HFM
Mega Millions
Mega Millions
Patricia





NM newsletters

Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

Recent News

  • After ordering shutdown of filling stations, IPMAN’s Borno State chapter makes U-turn
  • If insecurity in the North is addressed, food prices will crash – Dr Biodun Akinkunmi
  • Shareholders raise concerns over Ardova’s plan to delist from NGX

Follow us on social media:

Recent News

After ordering a shutdown of filling stations, Borno state chapter of IPMAN makes U-turn

After ordering shutdown of filling stations, IPMAN’s Borno State chapter makes U-turn

February 8, 2023
If insecurity in the North is addressed, food prices will crash

If insecurity in the North is addressed, food prices will crash – Dr Biodun Akinkunmi

February 8, 2023
  • Home
  • Exclusives
  • Markets
  • Industries
  • Economy
  • Business News
  • Financial Literacy
  • Lifestyle
  • Opinions

© 2023 Nairametrics

No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds

© 2023 Nairametrics