The process, which include allocation of 100 per cent shares and acquisition of both human and material resources to GBB are still inconclusive.
This is against the Nigerian policy on privatisation of public institutions as outlined in the reference that established the Bureau for Public Enterprise (BPE) charged with privatisation of public enterprises.
In setting up GBB, government supposedly claimed ownership of 51 per cent and private sector partners 49 per cent.
But investigations by Champion Infotel revealed that FG is yet to conclude the process of acquisition of GITT owned by the Jigawa State under Alhaji Ibrahim Saminu Turaki and was not proclaimed as subject for privatisation, just as the Nigerian Postal Service (NIPOST) and Nigerian Telecommunications Limited (NITEL) were the only listed government public entities mapped out for privatisation and commercialisation within the Information and Communication Technology (ICT) sector, according to BPE.
Even as efforts to contact BPE on updated pictured on GITT acquisition was not successful.
BPE reference on privatization and commercialisation process focused on four sub-categories including full, partial privatisation as well as full and partial commercialisation.
Full privatisation means divestment by the Federal Government of all its ordinary shareholding in the designated enterprise and partial privatisation stipulates divestment by the Federal Government of a part of its ordinary shareholding in the designated enterprise.
Relatively, full commercialisation entails that enterprises so designated will be expected to operate profitably on a commercial basis and be able to raise funds from the capital market without government guarantee. Such enterprises are expected to use private sector procedures in the running of their businesses.
While partial commercialisation involves that such enterprises so designated will be expected to generate enough revenue to cover their operating expenditures, although the government may consider giving them capital grants to finance their capital projects.
Confirming this development, Managing Director, Galaxy BB Plc, Mr. Gerald Ilukwe, said that the transfer of shares to other parties has not been concluded as well as process of full acquisition of GITT, which he promised will be within the next few weeks and as such the final allocation to the Jigawa State Government (JSG) and of the purported parners remained unknown.
Additionally, he debunked reports making a round that the former chief executive of GITT, Alhaji Yusuf Kazaure, who is currently the Chief Business Operation officer, Galaxy BackBone Limited, was not part of the game plan of acquiring GITT, hence he was offered the present position after he resigned his prior position.
Mr. Ilukwe explained that Alhaji Kazaure formerly resigned from GITT and joined GBB, even as plans are on to absorb other staff of GITT when there are openings.
Champion Infotel recalls that Galaxy Backbone Plc was set up in June 2006 to be a Public-Private-Partnership (PPP), while the board is made up of stakeholders from the Federal Ministries of Science and Technology, Education as well as board members from Ministries of Works, Communications and Health.
But the Senate Ad-hoc Committee that investigated the Petroleum Technology Development Fund (PTDF) scandal as at last quarter of 2006, revealed that of the purported N250 million sum, only N20 million was paid to the Corporate Affairs Commission (CAC) as incorporation fees allegedly through Afe Babalola chambers.
Galaxy Backbone’s mandate is to build and operate a single nation-wide infrastructure platform to provide network services to all Federal Government Ministries, Departments and Agencies (MDAs).
In addition, GBB is to manage all national databases and transversal applications and services for all Federal Government MDAs.
Equally, GBB is to provide connectivity and Internet access to rural and underserved communities and third party customers, as well as integrate people, technology and best practices to operate a financially independent company, while meeting and sustaining service quality standards as contained in service level agreements (SLA).
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