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Nigerian officials say liquidation of state telco fuelled by corruption

Vizz Africa allows African migrants in the UK to send airtime credit to friends and family back home

Uproar over the potential liquidation of Nigeria’s state-owned telcos has ensued, following accusation of collusion.

Nigeria approves sale of Nitel

Nitel’s position has been in steady decline for a number of years

The Nigerian government has approved the $2.5bn sale of a controlling stake in incumbent fixed line carrier Nitel to a consortium including China Unicom and Dubai investment group Minerva.

Nigeria sets two-month deadline on Nitel privatisation

Nitel's privatisation has been beset with difficulty

Nigeria’s government has set a 60-day deadline for the privatisation of the state-owned incumbent telco Nitel, including mobile operation M-Tel. The announcement came on Monday as the Nigerian vice-president, Dr. Goodluck Jonathan, appointed a new board to the company to oversee its stabilisation.

Nitel sold for $750m

The Nigerian-based conglomerate Transnational – Transcorp – has bought Nigerian Telecommunications – Nitel – and its mobile subsidiary Mtel, for $750m. According to Transcorp, the deal represents a “milestone in the privatisation process of the dominant fixed-line operator”. Nitel currently holds close to 80 per cent of Nigeria’s domestic market with presence in all its [...]