Nigerian Communications Commission (NCC) has approved a spectrum lease transaction between MTN Nigeria and Natcom Development and Investment Limited (NTEL), according to report by Nairametrics.
The deal would enable MTN Nigeria to lease two spectrums from NTEL (5HMz Frequency Division Duplex and 10HMz FDD) which cover 19 states in Nigeria.
The transaction cost MTN Nigeria N4.25 billion, according to a corporate action filed by the telco and seen by Nairametrics.
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The transaction cost included taxes, regulatory fees and anxilliary charges.
Also, note that the spectrum lease is for a 2-year period, starting May 1st, 2023.
