Nitel/Mtel Was Sold For N51.6bn, Says Senbore | Independent Newspapers Limited
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Business, IT & Telecomms

Nitel/Mtel Was Sold For N51.6bn, Says Senbore

Posted: Sep 2, 2016 at 6:59 am   /   by   /   comments (0)
Nitel/Mtel liquidator Olutola Senbore has said N51, 648, 643,000 was realised from the liquidation of the public owned telecom firms.
Senbore spoke during a meeting with agitated creditors of the liquidated telcos at the Transcorp Hilton Hotel, Abuja. The liquidator also dismissed reports indicating that President Muhammadu Buhari had demanded an upward review of the $252.25 million bid price paid by Natcom for Nitel/Mtel.
President Buhari was quoted in the media last year to have given a directive demanding additional payment above the $252.25 million paid by Natcom.
According to him, the amount represented the $252.25million paid by Natcom Consortium for the acquisition of the firms’ core assets, and other debts recovered on behalf of the liquidated firms.