FG Appoints Olutola Senbore and Co to Liquidate Nitel, Mtel

Federal government has appointed Olutola Senbore and Co., a consultant liquidator of Nigeria Telecommunications Limited (Nitel) and M-TEL, its mobile subsidiary after several attempts to privatize the beleaguered national carrier.

As a liquidator, Olutola Senbore and Co has the responsibility of collecting in all of the assets of the company and settling all claims against the company before putting the company into dissolution.

The decision to appoint Olutola Senbore and Co was taken at the National Council on Privatisation (NCP) meeting presided over yesterday by Vice President Namadi Sambo at the Presidential Villa, Abuja.

Dr. Yerimah Ngama, minister of State for Finance, disclosed after the meeting  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.”