Buhari orders probe of NITEL’s sale

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President Muhammadu Buhari has ordered an investigation into the sale of the Nigerian Telecommunication (NITEL) and its subsidiary, Mobile Telecommunication Plc (MTEL).
The president on Tuesday directed full probe into the sale of the two firms to establish whether the country was not shortchanged in the entire process that led to their handover to a new core investor.
The Federal Government, in April, handed over NITEL/MTEL to its preferred bidder, the NATCOM Consortium, after five failed attempts in 14 years to privatise the companies.
Buhari, during a briefing on the state of affairs of the telecom sector from the Permanent Secretary of the Ministry of Communications Technology, Dr. Tunji Olaopa and other officials in Abuja, said although he was not opposed to the sale of the national communication firm, there was the need to ensure that the country was not shortchanged in the process.
The president also directed the ministry to work harder to fully develop the revenue-generation potential of Nigeria’s information technology sector.
He requested the officials to bring forward for his consideration and approval, all pending proposals for the development of the IT sector, which require the approval of the Federal Executive Council.
“Where you don’t need Exco’s 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 said.
Buhari welcomed the plan by the ministry to use post offices nationwide for IT and financial transactions, especially in the rural communities, saying that he is happy to hear that “we are recovering the post offices from rats and rodents.”
The ministry’s presentation to the president dwelled on the potential of the IT sector which, Olaopa said, contributed …Read More

Source:: New Mail