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Mafab Communications Ltd and MTN Nigeria Plc, have each paid $273.6 million for the 3.5 gigahertz (GHz) spectrum for the deployment of Fifth Generation (5G) technology, persons knowledgeable about the development told IT Edge News in Abuja today.
The payment deadline for winners of the 3.5GHz spectrum auction is February 24.
The regulator, Nigerian Communications Commission (NCC), is expected to make a formal statement tonight on the development.
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MTN and Mafab Communications emerged winners of the two lots of 100MHz of the 3.5GHz spectrum to be deployed for 5G network in Nigeria at the auction process organised on December 13, 2021, by the NCC in conjunction with the Ministry of Communications and Digital Economy, in Abuja.
Each slot went for $273.6 million.
Africa’s leading telco, MTN had earlier made its payment, according to sources within the telco. Mafab payment was made earlier today to end speculations as to its ability to raise the fund. Mafab is a subsidiary of Althani Group of Companies Limited. The indigenous telecom company was incorporated and licensed in 2020 to operate local interconnect and international carrier services.
