NIGERIAN GOVT DUMPS NITEL CONTRACT MANAGERS PENTASCOPE
The Federal Government of Nigeria has terminated the contract signed with Netherlands-based Pentascope for the management of Nigerian Telecommunications Limited (NITEL), claiming that Pentascope has failed to meet its targets. The two parties signed the three-year contract in March 2003 after the attempted privatisation of NITEL failed in April 2002.
The Government intends to privatise Nitel this year so its sacking of Pentascope must represent a counsel of despair. In an interview last year (see url below) Pentascope appointed CEO Rein Zwolsman estimated that internal fraud accounted for between 30-40% of the company's revenues. If external managers cannot get to grips with the chaos of Nitel, who will fare any better?