June 4, 2023

Nigerian Communications Commission (NCC) has warned the public against relying on speculative reports on the process of 9mobile sale, insisting that several reports that did not tally with the process have been making the rounds in the past few weeks.

The telecoms industry regulator stated this during a forum on cost-based study for the determination of Mobile Voice Termination rates, carried out by PriceWater Coopers, PwC in Lagos.

It advised that until official statements which will involve the two regulators, the NCC and the Central Bank of Nigeria (CBN) is out, every other information on the sale of 9mobile should be taken with a pinch of salt.

Mr Sunday Dare, Executive Commissioner, stakeholders’ management, NCC, said that although the interim board of 9mobile is in charge of the bid process, it would submit reports to Barclays Africa, the financial adviser handling the sale of the telecoms company, NCC and CBN before any authentic announcement is made.

Dare said that the NCC was yet to receive any report indicating conclusion of the bid process and therefore any claim of preferred or reserve bidder could not be relied upon.

Dare who represented Professor Umar Danbatta, executive vice chairman (EVC) of the Commission, said that all the stakeholders involved in the 9mobile sale, considered the interest of investors, subscribers, and over 2,000 employees of 9mobile as driving factor to a seamless and transparent process.

He expressed confidence in the board to maintain a transparent handling of the telecom company’s sale process knowing that any shade of opaque handling of the process will create a dangerous ripple effect on the entire telecom sector.

Recall that it was rumoured last week that the interim board of 9mobile may have finally settled for Teleology Holdings Limited as the preferred bidder for 9mobile.

However, since then, several stakeholders have questioned the rationale behind the consideration and why it has not been officially announced.

 

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