NITEL REFUNDS GLOBACOM ITS USD5 MILLION SAT3 PAYMENT

Telecoms

In a startling revelation, Nitel's new CEO told the Daily Champion that the company was going to start to repay USD5 million that the Nigerian SNO Globacom had given it to become a partner in SAT3. Chief Executive Officer of NITEL, Dr Albert Mashi, announced the development at a press conference in Abuja, last week.

Reliable sources have already told us that Globacom sought to be become a shareholder in the SAT3 consortium but was turned down by its member-shareholders. The main purpose of the press conference was to announce that Nitel would run SAT3-based IP wholesale services (see Internet News below) and that it alone would provide these services.

Daily Champion