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NCC Shifts Payment Deadline for 5G Auction

NCC Shifts Payment Deadline for 5G Auction

The telecoms regulator says it has extended the payment deadline for intending bidders in the Nigeria 5G auction expiring today to next Monday. 

Prospective bidders in the 3.5 Gigahertz Spectrum band auction for the launch of 5G services in Nigeria were given a deadline expiring today to pay an intention to bid deposit (IBD) representing 10% of the $197.4 million set as the reserve price for each bouquet of the two licences up for sale in the bids slated for December 13 in Abuja, according to rules set by the Nigerian Communications Commission (NCC).

Dr. Ikechukwu Adinde, NCC Public Affairs Director announced the IBD payment deadline extension in a statement made available to Technology Times this afternoon explaining that “all other events as scheduled in the Information Memorandum remain unchanged.”

Adinde says the regulator decided to extend “due to the challenges posed to air travels as witnessed recently and considering that it may have some impact on intending bidders regarding the submission of their bids, the Commission hereby extends the deadline for submission of bids and Initial Bid Deposits (IBDs) to 5.00 pm on Monday, 29th November, 2021.” 

Editor’s Note: Check back for more on this developing story.

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