NCC insist auction bidders Pay $27.36m deposit for 5G spectrum
The Nigerian Communications Commission (NCC) says that anyone interested in participating in the forthcoming 3.5GHz spectrum auction for 5G will have to pay the sum of $27.36 million as Intention-to-Bid Deposit (IBD).
In a final Information Memorandum (IM) for the spectrum auction released over the weekend, the NCC emphasised that the deposit must be paid latest by 5 PM on December 5, 2022.
The auction is scheduled to take place on December 19, 2022, and the deposit amount represents 10% of the spectrum’s $273.6 million reserve price.
While NCC stated in the initial IM that licensees with up to 100MHz in the 3.5GHz band will not be eligible to participate in the auction.
