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Update : MTN, Mafab paid $273.6m each for 5G spectrum licence, Says NCC

The Nigerian Communications Commission has confirmed that MTN Nigeria and Mafab Communications Limited have paid $273.6m each for the Fifth Generation spectrum licence.
The Executive Vice Chairman of the NCC, Umar Danbatta, officially confirmed the payment status on Thursday, as the deadline set for the two winners of the spectrum auction elapsed.
This is according to a press statement issued by the Commission on Thursday, titled ‘3.5GHz Spectrum: MTN, Mafab Pay for Licences’.
It read in part, “Provisional winners of the 3.5 Gigahertz spectrum licence, MTN Communications Nigeria Plc and Mafab Communications Limited, have made their full payment of $273.6m each for the 5G Spectrum license to the Nigerian Communications Commission.”
Danbatta was quoted as saying, “I wish to officially announce that NCC has received and confirmed payments from MTN and Mafab for their acquisition of 1 slot of 100Mhz each in the 3.5Ghz spectrum auction, which was successfully conducted by the Commission on December 13, 2021. They both met the deadline of February 24, 2022, as set by the Commission.
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“Arising from this and on behalf of the Minister of Communications and Digital Economy, the Board and Management of the NCC, I wish to congratulate the MTN and Mafab for this feat, as we look forward to accomplishing other deployment timelines in the 5G deployment roadmap, as articulated in the National Policy on 5G Networks for Nigeria’s Digital Economy.”
Aside from the $273.6m payment, MTN paid an extra $15.9m for the preferred Lot 1 (3500-3600 Megahertz-MHz) in the 3.5Ghz spectrum, while, Mafab Communications settled with Lot 2 (3700-3800Mhz) at no extra cost.
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FIRSTBANK MARKS SIGNIFICANT MILESTONE: ₦1 TRILLION IN INSTANT DIGITAL LOAN DISBURSEMENTS
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FIRSTBANK PARTNERS UNGC TO DRIVE SUSTAINABLE FINANCE AND UNLOCK CAPITAL FOR DEVELOPMENT

FirstBank, the West Africa premier financial institution and financial inclusion services provider, has strengthened its partnership with the United Nations Global Compact (UNGC) to reaffirm its commitment to driving sustainable finance and unlocking capital for development. This ongoing partnership was reinforced at the recently concluded Fourth International Conference on Financing for Development (FfD4) hosted by the United Nations Department of Economic and Social Affairs (UN DESA) in Seville, Spain.
The FfD4 Conference brought together global leaders, policymakers, and private sector experts to discuss innovative solutions to address the growing SDG financing gap and unlock capital for development in fragile and underserved regions.
FirstBank’s Chief Risk Officer, Patrick Akhidenor, represented the bank at the conference and highlighted two FirstBank flagship initiatives driving resilience finance in Nigeria: The Solar Equipment Financing initiative and the revamped FirstGem Fund. The Solar Equipment Financing initiative offers tailored financing options for the purchase and installation of solar power systems, ensuring access to clean, reliable, and affordable energy solutions. The FirstGem Fund, a women-focused proposition, provides single-digit interest loans to women entrepreneurs without collateral requirements, targeting funding gaps in critical sectors.
‘’We are committed to driving sustainable finance and unlocking capital for development,” said Patrick Akhidenor. “Our partnership with UNGC and participation in the FfD4 Conference demonstrate our dedication to innovative finance solutions that address the SDG financing gap.”
Sanda Ojambo, CEO of UNGC, emphasized the need for innovative, inclusive financial models for underserved regions. “The private sector must play a central role in shaping fit-for-purpose, scalable finance solutions,” she said. “De-risking tools and blended finance can help unlock capital and drive meaningful impact.
FirstBank’s partnership with Development Finance Institutions (DFIs) and its SMEConnect hub demonstrate its capacity to lead efforts in sustainable finance. The bank provides training, networking, and tailored financing to SMEs across various sectors, including education, healthcare, and retail
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Access Holdings Reaffirms Strategic Growth Plan from Expansion to Optimisation


Access Holdings PLC, the parent company of Access
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