As part of the build up for the auctioning of the 2.6GHz Spectrum, the Nigerian Communications Commission (NCC) has rolled out Information Memorandum (IM) to serve as a guide for prospective investors in the bid.
Explaining more on the preparedness of the Commission to make the auction process transparent, fair and efficient, the Director, Spectrum Administration at NCC, Engineer Austin Nwaulune said apart from the detailed IM posted on the website, interested bidders should feel free to get details on how it works.
It would be recalled that the auction process commenced with the publication of the “Resumption of 2.6GHz Frequency Spectrum Auction” notice on February 25, 2016.
He said the Spectrum is considered to be a valuable national resource for which commercial opportunities exist, stressing that: “The reserve price for a 10 -year license is dependent on the Generic Reserve Price and the number of lots applied for by an applicant determined by the IBD paid”.
“The Generic Reserve Point is the minimum price at which the reserve lot should be sold, which is the reserve price for one lot or 2 times 5MHz and has a value of $16 million. Each lot represents one eligibility point and applicants that apply for and pay the IBD for 6 lots will have a total of 6 eligibility points.
Among the key points in the presentation are the terms and conditions for eligibility in the auction which include being a fully registered company with the Corporate Affairs Commission, be independent of other bidding firms, presentation of documentary evidence of fulfillment of regulatory obligations, rollout within time limit and others.
The auction process is expected to end by May 17 when the NCC will announce winners.