After several years of futile attempts at privatisation of the nation’s first national carrier on Communications, Nigeria Telecommunications Limited (NITEL) and its mobile subsidiary, M-TEL, the Federal Government yesterday approved a consultant liquidator.
It also approved the sum of N59.55 billion for guaranteeing power purchase bulk trader and for facilitation of the work of Bureau of Public Enterprises (BPE).
These formed the high point of decisions of the National Council on Privatisation (NCP) meeting presided over yesterday by Vice President Namadi Sambo at the Presidential Villa, Abuja.
The Minister of State for Finance, Dr. Yerimah Ngama and the Director General of the BPE, Benjamin Dikki briefed State House correspondents on the outcome of the meeting.
Ngama disclosed that Olutola Senbore & Company has been appointed as the liquidator for the NITEL and M-TEL.
Senbore, a Lagos-based Chartered Accounting firm, which also renders Financial Consultancy Services and Insolvency Practitioner Management services, has a six-month mandate to accomplish its task.
According to Ngama, “Several issues of national importance were discussed. One of the major issues discussed was the continuation of the privatization of NITEL.
“We are also happy to announce that at last, a liquidator has been appointed for NITEL and M-TEL and this liquidator was reached after several bids were received from about eight companies.
“At the end of the day, five were pre-qualified and after analysis, we picked Olutola Senbore and co. He is now the successful liquidator.”
