Posted by By Vincent Ukpong Kalu on
The federal government and Transcorp representatives yestersday agreed to bring in a new core investors to take control of shares in Nitel and Mtel.
The federal government and Transcorp representatives yestersday agreed to bring in a new core investors to take control of shares in Nitel and Mtel.
The core investor is to emerge through an open and transparent process.
Thi is contained in a commuique made avaible to newsmen at the end of the meeting that lasted over three hours in Abuja.
The Minister of information and Communicaiton, Mr. John Odey also addressed the staff of Nitel and Mtel who protested at the Radio House, Abuja.
The federal government and Transcorp representatives also agreed that the core investor must be an industry player with technical expertise, managerial experence and financial capacity. Both parties also accepted the need to imbibe the principles of the rule of law in resucitating Nitel and Mtel into a viable world class telecommunication firm.
In a brief remark, Odey, promised that the welfare of the staff of the two companies would be addressed.
'I want to assure you that government will not fail in its responsibility to take care of the staff of Mitel and Nitel. The Nitel and Mitel would be properly reprivatised to serve the purpose they were set up for", the Miniter said.
The Seinor Staff Assocaition of Communication, Transport and Corporations called for the immediate withdrawal of the remaining 10 percent shares alloted to Transcorp.
The Federal Capital Territory chapter president of the union, Commande Elisas Azek made the demand during a protest to the Radio House, Abuja.
Transcorp had 51% controlling shares before it agreed with the federal government to give out 41% to a new core investor.
The communique was signed by John Odey, the Group Manging Director of Transpcorp, Mr. John Isiyole. It was witnessed by the Permanent Secretary, Ministry of Information and Communicatation and Director General Bureau of Public Enterprise, Irene Chigbue.