Nigeria: Show Of Technical Competence Is A Must For 9mobile Bidders – NCC
The Nigeria Communications Commission (NCC) has said it would not approve the sale of 9mobile to any bidder who does not meet the requirement of technical competence.
The Executive Vice-Chairman of the regulatory body, Professor Umar Danbatta, said this in an interactive session with journalists on Monday. He mentioned that a preferred bidder for 9mobile had already emerged with NCC following the whole process.
Danbatta said "The bidder was going through a financial evaluation. Once the Central Bank of Nigeria is through with the financial assessment of the preferred bidder, NCC will then do a thorough check on the technical capacity of the bidder. This evaluation process will be open and transparent, and the board of 9mobile are already privy to this mandate with these requirements.”
The telecommunications industry in Nigeria made a contribution of N1.45 trillion to Nigeria’s Gross Domestic Product (GDP) in the first quarter of 2017. This figure rose to N1.5 trillion in the second quarter of the same year in spite of the economic recession the nation faced.
The preferred bidder for 9mobile turns out to be Teleology Holdings Ltd. which has paid the $50 million bid price for the acquisition of 9mobile.
Smile Communications emerged as the reserve bidder.