By Ismail Auwal
Mafab Communications Limited has met the Nigerian Communications Commission’s (NCC) payment deadline of February 24, 2022, for the 5G spectrum licence that they obtained in December last year.
Mafab Communications, led by Alhaji Musibau Bashiru, was licensed as an International Data Access (IDA) by the NCC in July 2020.
The telecommunication company paid the complete $273.6 million bid price with an additional $11, 120, 000 to get the second slot of the licence.
MTN had also earlier paid the $273.6 million bid price, with an additional $15, 900,000 to get the first slot of the licence.
Both winners have paid a total of $574.2 million to secure both spots for the 5G spectrum license, with payments made before today’s deadline.
It could be recalled that MTN Nigeria and Mafab Communications Limited won two slots of spectrum licence for 5G network rollout last December.
NCC mandated the two operators to pay for the licence on or before today, as stated in the 3.5GHz spectrum licence Information Memorandum.
According to the Information Memorandum, Prof. Umar Garba Danbatta, Executive Vice Chairman of the Nigerian Communications Commission (NCC), will provide an official update on the payment on February 27, 2022.
Prior to the auction, MTN Nigeria and Mafab Communications each paid a 10% deposit of N7.5 billion, which was required by law to qualify them to participate in the bidding procedure.
Both operators would have forfeited the initial 10% deposit if they had not met the payment deadline, which is today, as stated in the Information Memorandum.