MTN Pays N113.5 Trillion for NCC’s 5G License Fee Before February 24 Deadline
- The Nigeria Communications Commission has confirmed that MTN has paid the N113.5 trillion 5G license fee with Mafab Communications before the February 4 deadline
- The two companies emerged winners of the 3.5 gigahertz Fifth Generation technology in an auction held on November 2021
- Mafab paid N4.5 billion in addition to the original license fee while MTN added N6.5 billion license fee
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MTN Nigeria has paid the N113.5 trillion license fee before the February 24 deadline given by the Nigeria Communications Commission elapsed.
NCC announced this on its website. According to the information, MTN and Mafab Communications were named among those that paid their license fees in full have taken possession of the license documents for the telecoms undertaking before reclassification of licenses into Class and Individual licenses.
Source: Getty Images
The companies were given the slots for the 3.5 gigahertz (Ghz) Fifth generation (5G) technology spectrum after they won the auction held by the NCC.
What you should know
MTN emerged as the highest bidder at the auction followed by Mafab communications Limited. Mafab added N4.5 billion to the bidding fee and MTN added N6.5 billion.
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According to the information contained on the website, the license secured by MTN is in the individual category. The category is an authorisation in which the terms, conditions, obligations, reach and limitations are specific to the type of service being offered. The process of licensing takes the form of auction, first come, first serve and beauty contest or a standard administrative procedure.
The 5G auction was organised last year on November 13 by the NCC in conjunction with the Ministry of Communications and Digital Economy.
MTN Nigeria, Mafab Pay over Half a Billion Dollars to get 5G License
Legit.ng reported that Nigerian Communications Commission (NCC) has declared MTN Nigeria and Mafab Communications winners of the two slots of the 3.5GHz spectrum auction for the Fifth Generation (5G) network licenses for a total fee of $546m or N226.6 billion at the N415/$ exchange rate.
The bids ended at $273 million for both MTN and Mafab communication in a live auction held at Hilton Transcorp Hotel, Abuja the Nation reports.
The two winners were selected after nearly eight hours and 11 rounds of auctions which began at $199.37 million as against the reserve price of $197.4 million.
Source: Legit.ng
