Nigerian regulator says a $100 million debt is delaying the takeover of 9mobile

September 19, 2018 10:59 AM

Prof. Danbatta said the outstanding debt was part of the agreement reached during the bidding process of 9mobile by the parties.

Prof. Umar Danbatta

Prof. Umar Garba Danbatta, the Executive Vice Chairman of the Nigerian Communications Commission (NCC), has revealed that unpaid $100 outstanding debts

Danbatta stated this in a recent interview with Thisday newspaper at the ITU telecom conference in Durban, South Africa.

He said the outstanding debt was part of the agreement reached during the bidding process of 9mobile by the parties and it is outside of the $1.2 billion loans that the telecoms company owed the 13 local banks.

The debt was for the payment of equipment suppliers and contractors like Huawei, IHS and Nokia, among others.

He also explained an undisclosed amount needed to be pay before the regulatory body will release its report on the preferred bidder capacity in handling the telecoms firm, 9mobile.

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