LAGOS, - The dwindling fortune of Nigeria’s telecommunication company, NITEL, is caused by the lack of transparency in the sale of the company to core investors.
This is the view of the President of the Senior Staff Association of Communications Transport and Corporation (SSACTAC), Mr. Adetunji Adesunkanmi, in an interview with newsmen.
Speaking against the backdrop of a proposal by the Bureau of Public Entreprises (BPE) to hand over NITEL to a new core investor, Adesunkanmi said that the action would not be acceptable to stakeholders.
He said in Lagos that the appointment of PMP Paripas as the adviser to the process of transferring NITEL to a new core investor would yield no productive results.
“PMP Paripas was the adviser when NITEL was sold to Transcorp and I know government has its discretion to choose any company it wants.
“But the question is, if we had an adviser before and the performance was bad, why should they be given the job again,’’ he asked.
Adesunkanmi said that the people were concerned about a good technical and financially supported core investor to purchase NITEL to enable workers have a sustainable income.
“Apart from payment of workers’ salaries and allowances, Nigerians too will begin to enjoy the services of the one-time communications giant,’’ he said.
He maintained that the opportunity for a new core investor to resuscitate NITEL depended on the capability of the investor.
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