Bitflux Communications Limited has up until March 13, 2014 to pay $20.95m for the 2.3GHz broadband Internet frequency whose bid it won on Wednesday 19th, February, 2014,investigations have shown. The company had on Wednesday beaten Globacom Limited to the frequency spectrum offered by the Federal Government for broadband Internet services. Although the company offered $23.25m for the frequency, it had earlier paid $2.3m as Intention-to-Bid Deposit, which would have to be deducted from the final bid price. The Executive Vice Chairman, Nigerian Communications Commission, Dr. Eugene Juwah, said that the company had 14 business days to pay up or lose the chance to own the frequency to the reserve bidder, Globacom. However, the Information Memorandum published by the industry regulatory agency ahead of the auction put the deadline for the payment of the bid price as March13. Bitflux is also required to pay another N151m for a Unified Access Service Licence and has 30 days to meet up with this payment obligation. In an electronic auction conducted by the NCC on Wednesday, Bitflux, a consortium of three operators in the Nigerian ICT industry, offered $23, 251,000 ahead of Globacom’s $23,050,001 to clinch the coveted frequency.
PUNCH PG. 26 (FEBRUARY 21, 2014)