In line with Information Memorandum (IM) on
the auction of 70 MHz in the 2.6 GHz Spectrum Band published on February 25,
2016 the Nigerian Communications Commission, on behalf of the Federal
Government of Nigeria, wishes to announce that the auction process, which
closed for submission of applications on April 29, 2016, produced one Qualified
Bidder.
The Qualified Bidder expressed an interest
to bid for Six (6) Lots out of the Fourteen (14) Lots on offer and paid
the bid deposit as specified by the Information Memorandum on the Auction.
Therefore, the need for an auction event no
longer arose as the IM, stated that “If the aggregate demand from Approved
Bidders is less than, or equal to the number of lots on offer, the Commission
will provisionally award the license to the party/parties at the reserve
price”.
Consequently, the Commission is currently
undertaking a due diligence with a view to issuing a letter of award of license
for the cumulative 30MHz in the 2.6GHz Frequency.
Upon approval, the Qualified Bidder will be
required to pay a total US$96,000,000 (Ninety Six Million US Dollars) for the
license.
The Commission wishes to express its
profound gratitude to all telecom stakeholders for the interests shown in the
auction process for the 2.6GHz Spectrum Band.
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