After five rounds auctions for the for Nigeria’s Fifth Generation (5G) network license, the current bid price per lot of the 3.5GHz spectrum has now hit $224, 414, 217.43.
The first round began at $199.37 million as against the reserve price of $197.4 million at a quarter to 12 noon today.
All three bidders: MTN Nigeria, Airtel Nigeria and Mafab Nigeria Communications Ltd are still participating in the live auction as at 5.30 pm
The recalcitrant nature of Mafab Nigeria Communications Ltd, a relatively new entrant in the telecommunications sector in Nigeria is glaring.
Mafab Communications, led by Alhaji Musibau Bashiru, was licensed in July 2020, as an International Data Access (IDA) by the NCC.
Each auction round last 20 minutes and the bidders have either to accept the offer by putting on their bids or apply for an exit bid to quit.
The auction is supervised by the NCC and holding now at Transcorp Hilton Hotel, Abuja using the Ascending Clock format.
Eligible bidders have 20 minutes to put in their bids.
