A Federal High Court in Abuja on Thursday refused the request by Transcorp to stop the resale of 51% of NITEL and its mobile arm, M-Tel. Transcorp had initially acquired the shares, but the government revoked the sale amid allegations of mismanagement of the incumbent telco.
Defendants in the suit filed by Transcorp are the Bureau of Public Enterprises (BPE), Federal Attorney General, National Council on privatization (NCP), Finance Ministry, and seven members of the interim board of NITEL. Read the rest of this entry »
