Connect with us

News

MTN, Mafab acquire 5G spectrum for $547m

Published

on

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.

READ  Buhari throws jabs at OBJ: the man who tried third term did not end very well

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.

READ  United by a common enemy: Wike apologises to Oshiomhole for supporting Obaseki’s re-election

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.”

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published.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

News

Coup attempt in DR Congo: Three Americans among arrested suspects

Published

on

By

 

Three Americans have been reportedly listed among suspects responsible for Sunday’s coup attempt in the Democratic Republic of Congo (DRC).

 

Sylvain Ekenge, DRC army spokesperson, said the attempt involved “foreigners and Congolese”.

 

“These foreigners and Congolese have been put out of action, including their leader,” Ekenge said, adding that several suspects were detained and that the situation is now under control.

 

The army spokesperson did not provide further information concerning the incident.

 

Lucy Tamyln, US ambassador to the DRC, said she was shocked and very concerned to receive reports of American citizens being involved.

 

Pictures of two men with their hands clasped were published in local media, alongside pictures of a passport that indicated one was a 36-year-old US citizen born in Maryland.

 

“Please be assured that we will cooperate with the DRC authorities to the fullest extent as they investigate these criminal acts and hold accountable any U.S. citizen involved in criminal acts,” Tamlyn tweeted.

READ  Police rescue teenage girl ‘locked up by her aunt’ in Plateau

 

The army’s announcement of successfully thwarting a coup attempt came hours after armed men attacked the house of Vital Kamerhe, former chief of staff and close ally of President Felix Tshisekedi.
Kamerhe’s residence is about two kilometres from the presidential palace.
Michel Muhima, Kamerhe’s spokesperson, had said the gunmen clad in military uniform engaged the politician’s guards in a shootout, leaving three people dead.

Continue Reading

News

Raisi’s vice expected to be sworn in as president of Iran

Published

on

By

 

Iran’s first vice president, Mohammad Mokhber, is expected to assume the presidency after Ebrahim Raisi’s death in a helicopter crash as the country gears up for early elections.

The Iranian constitution stipulates that the first vice president take over “in the event of the president’s death, dismissal, resignation, absence or illness for more than two months”.

 

Raisi, who died on Sunday along with Foreign Minister Hossein Amir-Abdollahian and other officials, was nearing the end of his first four-year term as president.

 

Mokhber’s interim appointment requires the approval of Iran’s supreme leader Ayatollah Ali Khamenei, who has the final word in all state affairs.

 

Presidential elections to pick a permanent successor are to be held within 50 days, according to the constitution.

 

A council made up of the parliament speaker, head of the judiciary and the vice president are to be tasked with organising the national vote.

 

READ  June 12: Full Text of President Buhari’s speech on 2022 Democracy Day

Mokhber, 68, was appointed vice president as Raisi took office in August 2021.

 

The vice president was born in Dezful city in the southwestern province of Khuzestan, where he held several official positions.

 

For years since 2007, Mokhber chaired the Execution of Imam Khomeini’s Order, a governmental organisation tasked with managing properties confiscated following the 1979 Islamic revolution.

 

The foundation, established in the 1980s, has over the years grown to become a major state economic conglomerate with shares in various sectors.

 

Iranians head to the polls for presidential elections every four years since the Islamic Republic’s first vote in 1980.

 

The constitution sets a two-term limit for Iranian presidents.

 

The position of prime minister does not exist in Iran, and the president — assisted by several vice presidents — is responsible for appointing and directing the cabinet.

AFP

Continue Reading

News

Good morning! Here Are Some Major News Headlines In The Newspapers Today: CBN withdraws circular on cybersecurity levy

Published

on

By

 

1. The Central Bank of Nigeria (CBN) has withdrawn its earlier circular directing commercial banks, mobile money operators, and other financial institutions to implement the National Cybersecurity Levy. The move was primarily informed by President Bola Ahmed Tinubu’s directive and widespread concerns raised by Nigerians.

 

2. There are indications that President Bola Ahmed Tinubu is expected to receive the scorecard of members of his cabinet this week. The administration will be one year old next week, but the ministers will clock nine months in office tomorrow, having been sworn in on August 21 last year.

 

3. Troops of the Nigerian Army have rescued 383 women and children abducted by terrorists and insurgents in Sambisa Forest in Borno State. Those rescued include women and children who had been held in the forest for 10 years.

 

4. Presidential candidate of the Labour Party (LP) in the 2023 general elections, Peter Obi, has visited victims of Kano mosque arson. Obi, who arrived in Kano, on Sunday, went straight from the Mallam Aminu Kano International Airport to the Murtala Muhammad Specialist Hospital, where some of the victims are receiving treatment.

READ  June 12: Full Text of President Buhari’s speech on 2022 Democracy Day

 

5. President Bola Ahmed Tinubu has offered a fresh appointment to Ajuri Ngelale, his Special Adviser on Media and Publicity. Ngelale was named Special Presidential Envoy on Climate Action and secretary of the newly established 25-man committee to oversee Green Economic Initiatives.

 

6. A helicopter carrying Iran’s President Ebrahim Raisi was involved in “an accident” amid poor weather conditions on Sunday, state media reported, with a search underway and no news yet on his condition.

 

7. A man, Taiwo Badejo, has allegedly stabbed his friend, identified simply as Monday, to death over N2,500 debt in the Oko Oba area of Lagos State. It was gathered that Badejo and Monday were arguing over the money when the argument degenerated into a fight between them on Friday.

 

8. The National Drug Law Enforcement Agency has declared a couple, Kazeem and Rashidat Owoalade, wanted for running a cocaine cartel from India. This followed the arrest of four members of the syndicate in Lagos, where a Sports Utility Vehicle was recovered and two houses traced to them were sealed for forfeiture to the Federal Government.

READ  Buhari throws jabs at OBJ: the man who tried third term did not end very well

 

9. Organised Labour has told the Federal Government to perish any thought of offering N100,000 as the new minimum wage. It also asked the government to be serious with negotiations on the issue of workers’ wages, insisting that it used the lowest minimum in arriving at N615,000 as the new minimum wage.

 

10. Olubadan-designate, Oba Owolabi Olakulehin’s nomination is awaiting Oyo State Governor, Seyi Makinde’s approval, Local Government and Chieftaincy Affairs Commissioner, Segun Olayiwola said on Sunday. He disclosed that his nomination as the next Olubadan of Ibadanland has scaled through all the stages, except the final approval.

Continue Reading

Trending News