Mafab Communications Limited, the Nigerian tech company that won the 5G spectrum in last December’s 3.5GHz frequency auction alongside MTN Nigeria Plc, has met today’s deadline for full payment of its winning bid, Technology Times has learnt.
The Nigerian Communications Commission (NCC), the telecoms regulator and auctioneer of the 5G spectrum is expected to issue a statement later today confirming the successful payment by the two winning bidders, Mafab Communications Limited and MTN Nigeria Plc.
The two winners, Mafab and MTN, staked $273.6m for each spectrum with the latter shelling out an additional $15.9m for its choice lot of the two licences.
The 3.5GHz spectrum band which the Federal Government is assigning to power the deployment of 5G services in Nigeria was put up for sale through competitive bids among three bidders that included Airtel Nigeria, which lost out and the two winners in the December 13, 2021 auctions by NCC.
The auctioneer fixed today, February 24, 2022 as the deadline for the two winning bidders to pay the balance of the winning bid price.
“The NCC will issue a statement later today to confirm that Mafab has paid, following the previous one by MTN,” an authoritative source told Technology Times this afternoon.
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