President Buhari Orders Probe of $252m NITEL Sales

   

President Buhari has orders the Probe of the sale of the Nigerian Telecommunication Company NITEL last Dec By former President Jonathan for $262m.The Company  was bought by NATCOM consortium.


The President gave the directive when the Permanent Secretary of the Ministry of Communication and some other official briefed Buhari at the Villa yesteday,though Buhari was not against the sale but wanted to ensure the company was not short changed
The Permanent Secretary Mr Tunji  Olaopa said that Buhari directed the detail of the sale be directed in a memo to his office.

He said: “The President is concerned by the quality of service of telecom operators. The President is very concerned about the whole issue of privatisation that is hindering the investments in ICT infrastructure and that he will personally champion this.

“The President talked about the potentials of the ICT sector in generating employment.

“The President is concerned about the liquidation of NITEL. He is not opposed to its privatisation but he wants to know and he wants us to bring a memo on how the whole transaction was undertaken so that he would know whether Nigeria was shortchanged or not.”

Buhari also orders the Ministry to forward the proposal for IT sector which demands Federal Executive Council approval.

Shehu Garba the Special Adviser on Media and Publicity to the president said.

     “Where you don’t need EXCO approval and you are not in breach of the law and will not lose money, you can go ahead.

“Now that oil costs less and we are contending with its theft, we have to move to areas where we can realise revenue quickly.”

The President welcomed the plan by the ministry to use post-offices across the country for IT and financial transactions, especially in the rural communities, saying that he was happy to hear that “we are recovering the post offices from rats and rodents

“He also asked for a comprehensive report on the sale of the Nigerian Telecommunications Company (NITEL), saying that he was concerned by the continuing protests of former NITEL employees and other Nigerians over the manner in which assets of the company were sold.