MDC meets NCC deadline, pays N51.4 bn

The latest licensee in the Unified Licensing Regime (ULR), the Mubadala Development Company (MDC) of the United Arab Emirate (UAE), has met the Nigerian Communications Commission (NCC), requirement to pay the full licensing fee of $400 million within eight days of acquiring the license.

Confirming this development, Head, Public Affairs at NCC, Mr. Dave Imoko, said that MDC adhered to time by completing payment before the close of business last Friday, January 19, 2007.

According to him, NCC is pleased to announce the award of a Unified Access Service Licence to Mubadala Development Company of the United Arab Emirates.

This, he said, followed the confirmation of the payment of the full licence fee of $400million, about N51.4 billion.

He also said that the license includes a mobile license and spectrum in the Global System for Mobile Communications (GSM) on 1800 and 900 Mega Hertz (MHz) bands.

He equally said that the latest license would increase telecommunications offerings nationwide through the award of radio spectrum to MDC.

Mr. Imoko explained that license was as a result of a bilateral agreement between UAE and Nigeria.

He recalled that the terms of offer specified that Mubadala pay the full license fee on or before 19th January 2007 and failing which, the offer shall automatically lapse.

Mubadala has accepted the terms of the offer made on January 11, in full and in accordance last Friday, made full payment to that effect.

In a related development, the board of NCC announced its resolve to continue with the licensing of radio spectrum in the Third Generation (3G) and 450 MHz bands.

Mr. Imoko further said that these new licenses would encourage the deployment of advanced technology to build on the positive development of the telecommunications sector in the country.

Importantly, the release of more spectrum supports the government's policy of improving access to communication services and extending coverage, especially into rural areas. Just as subscribers could also expect to receive an increased range of services, improved quality of service and better value for money,

The process for awarding new licenses has incorporated the appointment of PA Consulting Group, a leading firm of international management and telecommunications consultants with operation in over 35 countries globally.

MDC is a wholly owned investment chain of the government of Emirate of Abu Dhabi, in the UAE.

Mubadala invests in a wide range of strategic sectors including energy, utilities, real estate, public-private partnerships, basic industries and services so as to diversify and further develop the rapidly growing economy of Abu Dhabi , while achieving superior returns on its investments.

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