GoldenNewsNG
  • Home
  • News
  • Education
  • Business
  • Jobs
  • Daily Guides
  • About Us
  • Advertise with Us
  • Home
  • News
  • Education
  • Business
  • Jobs
  • Daily Guides
  • About Us
  • Advertise with Us
No Result
View All Result
Golden News
No Result
View All Result

See How Much MTN, Mafab Paid To Clinch 5G Spectrum Licence

kunle kunle by kunle kunle
January 11, 2024
in Featured, News
Reading Time: 2 mins read
See How Much MTN, Mafab Paid To Clinch 5G Spectrum Licence
12
SHARES
Advertisements

MTN Nigeria and Mafab Communications Limited have made their full payment of $273.6 million each for the 5G Spectrum licence, the Nigerian Communications Commission (NCC) said on Thursday.

In December, the NCC said they won the bid for the 5G licence.  According to a statement issued by the NCC Director of Public Affairs, Dr. Ikechukwu Adinde, the commission’s Executive Vice Chairman, Prof. Umar Danbatta, has officially confirmed the payment status of the two companies.

READ ALSO

SUG Leaders tasked to join fight against Sexual, Gender Based Violence in Higher Institutions across Niger state

Nigerian Banks Resume International Transactions on Naira Debit Cards

“I wish to officially announce that NCC has received and confirmed payments from MTN and Mafab for their acquisition of 1 slot of 100Mhz each in the 3.5Ghz spectrum auction, which was successfully conducted by the Commission on December 13, 2021. They both met the deadline of February 24, 2022, as set by the Commission,” Danbatta was quoted as saying.

“Arising from this and on behalf of the Honourable Minister of Communications and Digital Economy, the Board and Management of the NCC, I wish to congratulate the MTN and Mafab for this feat, as we look forward to accomplishing other deployment timelines in the 5G deployment roadmap, as articulated in the National Policy on 5G Networks for Nigeria’s Digital Economy.”

The NCC boss also thanked the Federal Government for its support and commitment to the deployment of 5G technology in Nigeria which, he said, will bring substantial network improvements, including higher connection speed, mobility, and capacity, as well as low-latency capabilities to communications services in Nigeria.

As part of the auction process emplaced by the NCC in the Information Memorandum (IM), the companies alongside Airtel Networks Ltd submitted bids with an initial bid deposit (IBD) of $19.74 million, representing 10 per cent of the Reserve Price of the 3.5GHz Spectrum by the close of the bid submission date of November 29, 2021.

Following the successful auction on December 13, 2021, and the emergence of MTN and Mafab as winners, they were required to pay the balance of the bid amount of $253.86 million on or before February 24, 2022.

However, aside from the $273.6 million payment, MTN paid an additional $15.9 million, being the bidding sum it offered at the assignment state of the spectrum auction, making it clinch its preferred Lot 1 (3500-3600 Megahertz-MHz) in the 3.5Ghz spectrum; while, Mafab Communications, which bided lower at the assignment stage, consequentially settled with Lot 2 (3700-3800Mhz) at no extra cost.

📢 JOIN OUR WHATSAPP GROUP 📢 JOIN OUR TELEGRAM CHANNEL
Previous Post

Breaking: Omoyele Sowore Arrested In Abuja – See Why

Next Post

AWCON Qualification: NFF Congratulates Falcons

Related Posts

SUG Leaders tasked to join fight against Sexual, Gender Based Violence in Higher Institutions across Niger state

  ... Want bill on sexual harassment passed into law Group photograph As part of efforts to end Sexual and...

Read moreDetails

Nigerian Banks Resume International Transactions on Naira Debit Cards

Nigerian Banks Resume International Transactions on Naira Debit Cards

Nigerian Banks Resume International Transactions on Naira Debit Cards as FX Liquidity Improves GoldenNewsNg reports that after nearly three years...

Read moreDetails

Apply Now: Lagos State TESCOM Teachers Recruitment 2025 | Application Portal, Requirements, and Deadline

Lagos State TESCOM Teachers Recruitment 2025

Lagos State Teachers Recruitment 2025 - The Lagos State Government is planning to restore the discipline, structure, ethics, and investments...

Read moreDetails

Dollar to Naira Black Market Exchange Rate today 5th July 2025 – AbokiFX

Dollar to Naira Black Market Exchange Rate today 5th July 2025 – AbokiFX

Dollar to Naira Black Market Exchange Rate today, 5th July 2025, can be accessed below.   GoldenNewsNg has obtained the...

Read moreDetails

Breaking: Court Reinstates Senator Natasha, Slams Senate Over Excessive Suspension

Breaking: Court Reinstates Senator Natasha, Slams Senate Over Excessive Suspension

Abuja, FCT – The Federal High Court in Abuja has ordered the Senate to immediately recall Senator Natasha Akpoti-Uduaghan, representing...

Read moreDetails

FG to Enforce Vehicle Recycling Policy by October 2025, Targets 40,000 Jobs

Vehicle Recycling Policy

FG set to Enforce Vehicle Recycling Policy by October 2025, Targets 40,000 Jobs   GoldenNewsNg reports that the Federal Government...

Read moreDetails

Tensions Rise as Court Finds Senator Natasha Guilty of Contempt in Civil Case Against Akpabio

Breaking: Court Reinstates Senator Natasha, Slams Senate Over Excessive Suspension

The Federal High Court in Abuja has found suspended Senator Natasha Akpoti-Uduaghan, who represents Kogi Central, guilty of contempt of...

Read moreDetails

ADC Youths Rejects Atiku, Amaechi, El-Rufai

ADC Youths Rejects Atiku, Amaechi, El-Rufai

ADC Youth Wing Rejects Atiku, El-Rufai, Peter Obi Coalition Takeover Plan GoldenNewsNg reports that the Youth Wing of the African...

Read moreDetails

FG Sets Petrol Pricing Forum as Marketers Demand Transparency

Petrol Pricing Forum

FG Sets Petrol Pricing Forum for July 23–24 as Marketers Demand Transparency GoldenNewsNg reports that the Federal Government has scheduled...

Read moreDetails

Dollar to Naira Black Market Exchange Rate today 4th July 2025 – AbokiFX

Dollar to Naira Black Market Exchange Rate today 5th July 2025 – AbokiFX

Dollar to Naira Black Market Exchange Rate today, 4th July 2025, can be accessed below.   GoldenNewsNg has obtained the...

Read moreDetails
Load More
Next Post
AWCON Qualification: NFF Congratulates Falcons

AWCON Qualification: NFF Congratulates Falcons

SEARCH ADS

Latest Posts

FMYD Opens Registration for Data Protection Training for Youths
Headline

FMYD Opens Registration for Data Protection Training for Youths

Education

SUG Leaders tasked to join fight against Sexual, Gender Based Violence in Higher Institutions across Niger state

DESOPADEC Begins N50,000 Bursary Payouts in August
Education

DESOPADEC set to Commence N50,000 Bursary Payment

Hard Skills Mentorship Programme Empowers Young Nigerian Women
Headline

Apply Now: Soft Girl, Hard Skills Mentorship Programme Empowers Young Nigerian Women

Nigerian Banks Resume International Transactions on Naira Debit Cards
business

Nigerian Banks Resume International Transactions on Naira Debit Cards

Headline

Over 51,000 Adamawa Residents Receive ₦75,000 Each Through FG Conditional Cash Transfer Programme

Apply for FG and Amazon Web Services Digital Skills Program for Nigerians
Headline

Apply for FG and Amazon Web Services Digital Skills Program for Nigerians

Lagos State TESCOM Teachers Recruitment 2025
Headline

Apply Now: Lagos State TESCOM Teachers Recruitment 2025 | Application Portal, Requirements, and Deadline

FG Partners DBN To Provide Grants To 3MTT Nigeria Fellows
Headline

FG Partners DBN to Provide ₦100 Million Grant to 3MTT Nigeria Fellows

Dollar to Naira Black Market Exchange Rate today 5th July 2025 – AbokiFX
business

Dollar to Naira Black Market Exchange Rate today 5th July 2025 – AbokiFX

© 2024 Golden News

  • About Us
  • Advertise with Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms And Conditions
No Result
View All Result
  • Home
  • News
  • Education
  • Business
  • Jobs
  • Daily Guides
  • About Us
  • Advertise with Us

© 2024 Golden News