Swift, Cobranet win NCC 2-slot auction on 25MHz in 5.4MHz

ITRealms:

The Nigerian Communications Commission (NCC) has named Swift Networks and Cobranet, the winners of the recent auction of the Two (2) slot of 25 Mega Hertz (MHz) bandwidth each in the 5.4 MHz frequency spectrum band for utilization in Lagos State, reports ITRealms.

Sources at the Commission, confirmed to ITRealms, weekend, that the auction which had six pre-qualified bidders, was supervised by the Executive Commissioner, Technical Standard at the Commission, Engr. Ubale Maska.

He reportedly ensured that the process was fair, transparent and equitable.

ITRealms also gathered that in fulfillment of the auction requirements, bidders paid a non- refundable 10 per cent of the reserve price which was N18,750,000,000.

NCC, ITRealms reports, equally disclosed that each bidder had a runner who delivered their bid’s amount to the auctioneer and were supervised by the chief runner.

However, ITRealms further reported that the auction ended at the 11th round of bidding with Swift Networks and Cobranet emerging winners of the slot each at N27,659,347.10 per year.

Also present at the event includes Director, Spectrum Administration (NCC), Engr. Austin Nwaulunne, Deputy, Director Policy-Dr. Henry Nkenmadu, and Head, Public Relations, Reuben Muoka among others.

Chuks Egbune/GEE

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Pix: L R Jamil Chaptini Chief Executive Officer Cobranet Limited Mr. Austin Nwaulunne Director Spectrum Administration Nigerian Communications Commission NCC, Engr. Ubale Maska Executive Commissioner Technical Services Nigerian Communications Commission NCC, Mr. Charles Anudu Chief Executive Officer Swift Networks Ltd.