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MTN, Mafab acquire 5G spectrum for $547m

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The Nigerian Communications Commission auction for its two available lots of 100 MHz TDD slots of 3.5 GHz band for the deployment of fifth-generation network in the country has been won by MTN Nigeria and Mafab Nigeria Communications Limited in a live auction, held in Abuja on Monday.

The NCC had recently approved MTN Nigeria, Mafab and Airtel Networks Limited for the bidding process.

The three companies participated in the Monday’s 5G auction and the bidding began at $199.37m, as against the reserve price of $197.4m set by the NCC.

After about eight hours and 11 rounds of bidding, the auction ended at $273.6m for each available lots, and MTN and Mafab emerged as winners.

Bidding was set at $275,904,886 for the 11th round. Airtel remained in the bidding process until the last round when it fell off.

MTN paid an extra sum of $15.9m to be assigned the preferred lot of Lot One, while Mafab was assigned Lot Two, at no extra cost. In its Information Memorandum, the commission had said it was auctioning two lots of 100 MHz each in the 3.5 GHz band ranging from 3500 – 3600 MHz and 3700 to 3800 MHz.

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Mafab, led by Alhaji Musibau Bashiru, is a new entrant in the telecoms sector and was licensed in July 2020. The company has an international data access licence from the NCC. The winners have until February 2022 to pay for the spectrum, or lose it.

According to the commission, if the winner does not hold a Unified Access Service Licence, which is the operational licence for the frequency spectrum, it need to acquire the UASL at an additional fee of N374.6m.

The first six rounds of the auction lasted for 20 minutes and the second five rounds lasted for 10 minutes.

Bidding started at $199.37 in the first round, and increased to $201.37m in the second round.

The third bidding round was ended at $204.39m. By the fourth round, it was at $209.41m, while the fifth bidding round ended at $215.78m; the sixth bidding round ended at $224.41m.

The seventh bidding round was at $231.15m; the eighth round was at $240.39m, while the ninth round ended at $251.21m. The 10th round was at $263.02m before the bidding ended in the 11th round at $275.91m. The last price for each of the 5G spectrum is about $78m above the reserve price.

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Meanwhile, the Minister of Communications and Digital Economy, Prof. Isa Pantami, has assured stakeholders that 5G will not compromise security in the country.

Pantami had spoken earlier at the auction of the 3.5 gigahertz spectrum organised by the NCC.

The minister said 5G would solve some of the security challenges in the country.

He said, “We have already made a number of giant strides in the development of our digital economy and the development of 5G networks will further support our efforts.

He added, “The review showed that 5G is safe for deployment in Nigeria and will not compromise our security as a country.”

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UPDATED: Ex-aviation minister, Sirika, daughter arraigned over ‘N2.7bn contract fraud, gets N100m bail

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A former Aviation Minister Hadi Sirika has pleaded not guilty to the alleged corrupt practices involving about N2.7 billion brought against him by the Federal Government.

 

Sirika was arraigned before Justice Sylvanus Oriji at the Federal High Court in Abuja along with his daughter, Fatima, his son-in-law, Jalal Sule Hamma, and a firm – Al Buraq Global Investment Limited.

The daughter and son-in-law also pleaded not guilty to the six-count charges when read to them.

Following their denial of the fraud charges, their respective lawyers moved applications for their bail which was granted by the judge.

 

Justice Oriji admitted the three defendants on bail for ₦100m and two sureties each in the like sum.

The sureties must be responsible citizens with verifiable home addresses while one of them must have landed property with a certificate of occupancy signed by the FCT Minister.

The judge ordered that the defendants must not travel out of the country without express permission of the court.

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If unable to perfect the bail conditions, Justice Orijin ordered that they should be remanded in prison custody till the time of perfection of bail conditions.

 

The court fixed June June 10th for the commencement of the trial.

 

Sirika served under the administration of former president Muhammadu Buhari.

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BREAKING: Ex-aviation minister, Sirika, daughter arraigned over ‘N2.7bn contract fraud’

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A federal capital territory (FCT) high court in Maitama has arraigned Hadi Sirika, a former minister of aviation.

The ex-minister has also been granted bail in the sum of N100 million.

The Economic and Financial Crimes Commission (EFCC) is prosecuting Sirika on a six-count amended charge bordering on alleged N2.7 billion contract fraud.

 

The EFCC had detained Sirika on April 23 pending his arraignment.

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Good morning! Here Are Some Major News Headlines In The Newspapers Today: Pro-Fubara lawmakers elect factional Speaker, others

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1. A factional Speaker, Victor Oko Jumbo, representing Bonny Constituency, has emerged in the Rivers Assembly in a new twist to the crisis rocking the State. He was elected by lawmakers loyal to Governor Siminalayi Fubara.

 

2. Economic and Financial Crimes Commission, EFCC, will on Thursday, May 9, arraign the former Minister of Aviation, Hadi Sirika, his daughter, Fatimah, and two other suspects in court. The suspects are facing charges over alleged N2.7 billion contract fraud uncovered in the Aviation Ministry under Sirika.

 

3. The Nigerian Army has withdrawn its officials from Okuama community in Ughelli South Local Government Area of Delta State. According to a statement by Governor Sheriff Oborevwori, the withdrawal was confirmed during a phone conversation with the Chief of Army Staff, Lt. Gen. Taoreed Lagbaja, on Monday, May 6.

 

4. The Rivers State chapter of the Association of Local Government Areas of Nigeria (ALGON) has said it is ready to back the call for the impeachment of Governor Siminalayi Fubara. The local government chairmen also accused Fubara of embezzling funds intended for the state’s twenty-three LGAs.

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5. The Speaker of the House of Representatives, Abbas Tajudeen, yesterday, stepped down a motion calling for the suspension of the cybersecurity levy, which has sparked widespread dissatisfaction. During Wednesday’s plenary session, Manu Soro, a lawmaker from Bauchi State, presented the motion, expressing concerns that the levy’s introduction was ill-timed given the prevailing economic condition in Nigeria.

 

6. The Ogun State Police Command said it has arrested a septuagenarian landlord, identified simply as Adesina, for allegedly defiling and impregnating his tenant’s 14-year-old girl (name withheld) at Akegbeyale Street in Ifesowapo Akute, Ifo Local Government Area of the state. The state Police Command spokesman, Omolola Odutola, said the case had been transferred to the State Criminal Investigation Department, where all parties would be grilled.

 

7. The police on Wednesday continued their investigation into the circumstances leading to the death of the late singer, Ilerioluwa Aloba, aka Mohbad. This followed the invitation extended to Mohbad’s family and the group of persons mentioned in the ongoing probe of the illegal embalming of the deceased’s body following his death.

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8. The Nigeria Police has arrested eight suspected cult members at the Ekiti State University, Ado Ekiti. The Police Public Relations Officer, Ekiti State Command, Sunday Abutu, said, in Ado Ekiti, on Wednesday, that the arrest the previous day followed the intervention of men of the Rapid Response Squad following a distress call.

 

9. The Department of Development Control of the Abuja Metropolitan Management Council, AMMC, of the FCT Administration, has demolished shanties illegally built on a road corridor in Wuse Zone 3. The Coordinator of AMMC, Mr Felix Obuah, told journalists after the exercise on Wednesday that the move was part of efforts to clear all shanties in the city.

 

10. The House of Representatives has called for security presence in schools across the nation to address the worsening security situation in the country. The decision of the House is sequel to the adoption of a motion of urgent public importance moved at the plenary on Wednesday by Billy Osawaru.

READ  Glo missing as NCC qualifies MTN, Airtel, new firm for 5G auction

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