" ITREALMS: NITEL: NATCOM pays up $252.2m … FG approves handover

Friday, April 17, 2015

NITEL: NATCOM pays up $252.2m … FG approves handover

The Federal Government may have concluded plans to handover NITEL/MTEL facilities to NATCOM consortium having met the necessary requirements including full payment of $252.251million cost of acquisition repor, according to the deputy chairman, National Council on Privatization Technical Committee Mr.  Haruna Sambo, ITRealms reports.

Mr. Sambo disclosed this at the last meeting of his committee for this administration, saying that NCP has approved the handover following the financial bid for NITEL/MTEL by the bidder, NATCOM consortium.

‘Today, at the council meeting, the council approved the handover to NATCOM consortium, having paid the cost of acquisition. By this approval, the process has come to a closure and the council has mandated the BPE to hand over the two companies to the preferred winner after all due processes are taken care of,” he said.

As said by him, with this, the transaction has come to an end and Council therefore authorize BPE to hand over the two companies NATCOM consortium.

Also Vice President Namadi Sambo, and the permanent secretary of Ministry of Power Mr. Godknows Igali, said that government had settled about 98 per cent of ex-PHCN workers, including their pensions and gratuities directing that any other remaining cases should be referred to the BPE for settlements.

The minister of Mines and Steel Hon. Musa Sada, added that the council also discussed reforms of the National Parks as well as the Federal Housing Authority (FHA) with the aim to restructure the sector and bridge the 17 million housing deficit in the country.

AbdulKareem Mueenah/GEE

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