LAGOS: The Bureau of Public Enterprises (BPE) has revealed that the Federal Government has not placed any price tag on the moribund Nigerian Telecommunications Limited (NITEL) and its mobile arm, Mtel. According to a statement signed by BPE spokesman, Chukwuma Nwokoh, the organization got the report of the price tag in a motion before the House of Representatives. BPE said NITEL and its mobile arm, Mtel, would be sold through “guided liquidation” in view of the company's huge liabilities. According to their statement, no liquidator has been appointed for NITEL to determine the real value of the telecoms organization not to talk of placing a price tag on it. The National Council on Privatization (NCP) at its first meeting in February 2012 mandated its two committees – the Technical Committee and Legal Committee – to determine the modalities for handling NITEL/Mtel's guided liquidation. The two committees, BPE said yesterday, are still working on the assignment. “Besides, a liquidator has not been appointed for NITEL to determine the real value of the telecoms organization,” the bureau further said. In a statement signed by BPE spokesman Chukwuma Nwokoh, they said, “We are therefore at a loss as how the price tag of $105 million came about and who gave its approval. We therefore, appeal for caution and against speculation to allow the joint committee to carry out its assignment.” BPE further stressed that it does not take any decision without approval from its superiors; the NCP and NITEL/Mtel planned liquidation is not an exception. BM ShortURL: http://goo.gl/K0a4m Tags: Liquidation, Nigeria, Nitel Section: Tech, West Africa
