NITEL liquidator named

Nigerian state-owned telecoms operator NITEL and its mobile division, M-Tel, will be sold as a going concern, said the authorities in naming the liquidator this week.

The government announced that Chartered Accounting firm Olutola Senbore & Company had been approved as the liquidator for the sale. The Minister of State Finance, Yerima Ngama, and the Director General of the Bureau for Public Enterprises, Benjamin Diki, said around eight companies had bid to serve at the liquidator of the national telco. Five had then been pre-qualified and the liquidator had been chosen after analysis.

Attempts to sell the debt-ridden telco have failed in the past; and there has been resistance to outright liquidation of the entity.

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