While receiving members of the Ministry of Information at the
presidential villa today August 18th, President Buhari ordered a probe
on the sale of NITEL to private investors in 2014 by the last
administration, stating that he wants to know if Nigeria was
short-changed.
According to the permanent secretary of the ministry Tunji Olaopa who
spoke to state house correspondents after the meeting, President Buhari
said the documents for the privatization should be handed over to him
"The president was also concerned about the liquidation of NITEL. He is
not opposed to its privatization 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 short-changed,” he said.
NITEL and its sister company, MTEL, were bought by a consortium owned by
Skye Bank’s chairman, Tunde Ayeni, the founder of Sahara Energy, Tonye
Cole, and two other companies for $242.3 million (about N42.4 billion)
in December 2014.
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