Nitel to be liquidated
TELECOMS
By BiztechAfrica - March 2, 2012, 10:56 a.m.
After several attempts to sell state telco Nitel, the Nigerian Government has decided to liquidate it.
Last month, the government noted with concern that the national carrier’s debt had soared to N250 billion, including months of unpaid salaries.
With repeated attempts to sell the telco having failed, the Bureau of Public Enterprises has now announced that the government’s National Council on Privatisation has approved the liquidation of Nitel, and its mobile arm, M-Tel, and the sale of their assets.
The Council will determine the liquidation process.
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