Airtel deposits $27m for 5G license

Telecommunication firm, Airtel Nigeria, has shown sincerity in acquiring 5G license following a $27m intention-to-bid deposit (IBD) it paid.

The industry regulator, Nigerian Communications Commission (NCC), said this at end of the bid round on Wednesday.

The other bidder, Standard Network & Connections Limited (Standard Network), failed in its effort. The NCC rejected Standard Network’s effort to pay its IBD over an extended period.

The NCC said, “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 in view of the auction timetable.

“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 reserved price for the 5G license is $273.6 billion).

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button