The Nigerian Communications Commission (NCC) has approved a spectrum lease transaction between MTN Nigeria and Natcom Development and Investment Limited (NTEL).
The deal would enable MTN Nigeria to lease two spectrums from NTEL (5HMz Frequency Division Duplex and 10HMz FDD) which cover 19 states in Nigeria.
The transaction cost MTN Nigeria N4.25 billion, according to a corporate action filed by the telco and seen by Nairametrics.
The transaction cost included taxes, regulatory fees, and auxiliary charges. Also, note that the spectrum lease is for a 2-year period, starting May 1st, 2023.
The company also disclosed that the telecom regulator has also renewed its 2100MHz spectrum for a period of 15 years, effective from 1 May 2022 to 30 April 2037.
This spectrum enables the telecom company to continue to provide 3G services on its network. For this spectrum, MTN said it has also paid N58.66 billion to the NCC. (Nairametrics)
