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FG revokes NITEL sale, orders probe of Pentescope deal

Posted by By MOLLY KILETE, Abuja on 2008/02/19 | Views: 941 |

FG revokes NITEL sale, orders probe of Pentescope deal


The Federal Government yesterday announced the reversal of the sale of NITEL/MTEL earlier made to Transcorp Corporation (TRANSCORP).

The Federal Government yesterday announced the reversal of the sale of NITEL/MTEL earlier made to Transcorp Corporation (TRANSCORP).

Similarly, the Federal Government directed that an investigation be carried out in the management contract of NITEL/MTEL by Pentescope.

The decission, according to the Minister of Information, Mr. John Odey, is as a result of the failure of TRANSCORP to achieve the objectives of the
privitization policy, thereby making the Federal Government’s new position on the sale tenable.

According to the statement, the decission was part of the Yar’Adua administration at ensuring that due process and the rule of law are followed at all times.

The statement reads.”The Federal Government has, as part of its effort in ensuring that due process and the rule of law are followed at all times, considered various complaints arising from of the sale of NITEL/MTEL to Transnational Corporation(TRANSCORP).

This is in addition to the failure of TRANSCORP to acvhieve the objectives of the privitization guidelines thus making the Federal Government’s new
position on the sale tenable.
“Accordingly, the Federal Government has approved the reversal of the sale of NITEL/MTEL to Transnational Corporation (TRANSCORP).
“Additionally, the government, in considering this position, has also diredted that investigation (be) carried out in the management contract of MTEL/NITEL by Pentescope,” the statement added.

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Fay(Katy, Texas, US)says...

Actually translates to bravehearted.