The Bureau of Public Enterprises (BPE), yesterday, assured creditors to the Nigeria Telecommunications Plc (NITEL) and its mobile arm, Nigerian Mobile Telecommunication (MTEL), that they will start getting disbursements after the full payment for the company has been received 90 days from now.
This is even as the NATCOM Consortium, the preferred bidder for the NITEL/MTEL has paid $75.75 million (N12.72 billion), being 30 per cent of the $252.52 million bid price for the acquisition of the assets and business units of the enterprises.
The bureau, in a statement signed by its head, Public Communications, Chigbo Anichebe, said this was in line with the offer letter to the preferred bidder which mandates the consortium to make an initial deposit of 30 per cent of the bid price not later than 14 days on receipt of the offer letter and is expected to pay the balance of 70 per cent within 90 days.
“It is, therefore, imperative to inform creditors that disbursements to them will be considered only after full payment has been received,” the BPE stated.
Unfortunately, one of the two pre-qualified bidders, the NETTAG Consortium, was disqualified for failure to enclose a bid bond as clearly stipulated in the RFP. Following the disqualification of the NETTAG Consortium, only the financial bid of the NATCOM Consortium qualified for opening on December 3, 2014, having scored an average of 92 per cent in its technical proposal which was above the minimum pass mark of 75 per cent and satisfied the requirement of a valid bid bond. (Leadership)
This is even as the NATCOM Consortium, the preferred bidder for the NITEL/MTEL has paid $75.75 million (N12.72 billion), being 30 per cent of the $252.52 million bid price for the acquisition of the assets and business units of the enterprises.
The bureau, in a statement signed by its head, Public Communications, Chigbo Anichebe, said this was in line with the offer letter to the preferred bidder which mandates the consortium to make an initial deposit of 30 per cent of the bid price not later than 14 days on receipt of the offer letter and is expected to pay the balance of 70 per cent within 90 days.
“It is, therefore, imperative to inform creditors that disbursements to them will be considered only after full payment has been received,” the BPE stated.
Unfortunately, one of the two pre-qualified bidders, the NETTAG Consortium, was disqualified for failure to enclose a bid bond as clearly stipulated in the RFP. Following the disqualification of the NETTAG Consortium, only the financial bid of the NATCOM Consortium qualified for opening on December 3, 2014, having scored an average of 92 per cent in its technical proposal which was above the minimum pass mark of 75 per cent and satisfied the requirement of a valid bid bond. (Leadership)
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