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Friday, May 20, 2016

One qualifier emerges in 70 MHz auction by NCC

The Nigerian Communications Commission (NCC) has proclaimed that only one bidder qualified from the auction of 70 MHz in the 2.6 GHz Spectrum Band published on February 25, 2016, reports ITRealms.

Director, Public Affairs at NCC, Mr. Tony Ojobo, said that the auction conducted on behalf of the Federal Government of Nigeria, closed for submission of applications on April 29, 2016, and “produced one Qualified Bidder.”

Ojobo said, 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 (IM) on the Auction.

He also said, 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 or parties at the reserve price”.

The Commission, he said, 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,” he said.

The Commission, Ojobo said, expressed profound gratitude to all telecom stakeholders for the interests shown in the auction process for the 2.6GHz Spectrum Band.

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