According to a statement released by MTN yesterday and posted on the Nigerian Stock Exchange, the license for the 2.6GHz spectrum is valid for 10 years, beginning on September 7, 2023, and ending on April 16, 2033, at which point it may be renewed. The statement was signed by the company secretary, Uto Ukpanah.
The telecommunications company stated that the NCC had approved the transfer and assignment of the 10MHz frequency division duplex (FDD) in the 2.6GHz spectrum band to it from OpenSkys Services limited. The spectrum would allow the telecom giant to “improve network capacity and customer experience,” according to the telecommunications company.
The acquisition of the additional 10MHz FDD in the 2.6GHz spectrum band is a significant step in the implementation of our Ambition 2025 goal, according to MTN Nigeria’s Chief Executive Officer, Karl Toriola. With this spectrum, MTN Nigeria will be able to expand its network capacity more effectively and advance its sustainable aims.
The Nigerian Communications Commission (NCC) has authorized the technology company MTN Nigeria Communications Plc to purchase 2.6GHz spectrum.
Price declines of major and medium capitalized equities, including those belonging to Nestle Nigeria, Dangote Sugar Refinery, NASCON Allied Industries, MTN Nigeria Communications (MTNN), and Nigerian Exchange Group, were the main cause of the slump.
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