Telecom Giant Allegedly Pays N154 Billion License Renewal Debt To FG

The founder and owner of the telecommunication giant, Globacom Limited, Mike Adenuga, has reportedly paid N154 billion to the federal government.

Naija News reports that the payment of the N154 billion was to offset part of the N200 billion spectrum license renewal debt it owed the government.

SaharaReporters on September 21 reported that sources within the presidency accused  Adenuga of compromising the Executive Vice Chairman of the Nigerian Communications Commission (NCC), Prof. Umar Garba Danbatta, with bribes and promises of presidential intervention to secure his two-year term.

However, on Wednesday, the platform said a top source confirmed that Adenuga has paid N154 billion for the renewal fees.

The source said, “After SaharaReporters reported on Globacom, which broke the back of the horse, Mike Adenuga has paid the government N154 billion with the remaining outstanding to be paid.” 

The source also revealed that the NCC boss, Danbatta, would leave office very soon.

 “Additionally, it is confirmed that the Executive Vice Chairman of NCC, Danbatta, is to leave his current position in the coming days,” the source said.

Another source in the presidential villa also said, “Since President Tinubu took office, Danbatta has showered those around the Aso Villa with bulletproof cars and cash to secure his position. His recent blunder of allowing Glo to ‘murder’ Nigerians without paying its N200 billion debt is a test of the president’s resolve.

“Upon learning of the presidency’s awareness of his misdeeds, Danbatta issued a fake threat to his staff to suspend all regulatory services to Glo. The question is, why did he not do so in May when the money was due?

“This story is a cause for concern because it suggests that Adenuga is using his wealth and power to evade his financial obligations to the government. It is also a cause for concern that Danbatta is using his position to protect Adenuga instead of upholding the law. His bribery of those around the Villa further suggests that he is trying to buy influence.”

Meanwhile, another source presidency source said Danbatta in August tricked the current Minister of Communications, Innovation and Digital Economy, Bosun Tijani, into signing off on a spectrum license trade that violates the one-year operating requirement, and also dispatched his son to India to lobby President Bola Tinubu’s son, Seyi, on his behalf.

Recall that in May 2023, SaharaReporters reported how Isa Ali Pantami, then Minister of Communications and Digital Economy and Sabiu “Tunde” Yusuf, who was former President Muhammadu Buhari’s personal secretary, reportedly colluded to ensure the granting of licences for broadcast frequencies in the 600MHz spectrum band by the NCC in the twilight of the Buhari’s administration.