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    MTN Nigeria Gets NCC Approval to Lease Spectrum from NTEL

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    MTN

    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.

    Read Also: Here’s All You Need to Know About New Service Codes for MTN, Glo, Airtel, and 9mobile

    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.

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    L–R: Secretary, Nigerian Communications Commission (NCC), Gwa Mohammed; Chief Executive Officer, Ministry of Finance Incorporated, Dr. Armstrong Takang; Executive Vice Chairman/Chief Executive Officer, NCC, Dr. Aminu Maida; Coordinating Director, Financial Reporting Council of Nigeria, Mr. Titus Osawe; Executive Commissioner, Stakeholder Management, NCC, Rimini Makama; Professor of Corporate Governance, Lagos Business School, Fabian Ajogwu, SAN, during the workshop/formal launch of Guidelines on Corporate Governance For Nigerian Telecommunications Industry hosted by the Commission in Lagos recently. L–R: Secretary, Nigerian Communications Commission (NCC), Gwa Mohammed; Chief Executive Officer, Ministry of Finance Incorporated, Dr. Armstrong Takang; Executive Vice Chairman/Chief Executive Officer, NCC, Dr. Aminu Maida; Coordinating Director, Financial Reporting Council of Nigeria, Mr. Titus Osawe; Executive Commissioner, Stakeholder Management, NCC, Rimini Makama; Professor of Corporate Governance, Lagos Business School, Fabian Ajogwu, SAN, during the workshop/formal launch of Guidelines on Corporate Governance For Nigerian Telecommunications Industry hosted by the Commission in Lagos recently.

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