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October 11, 2023
Top sources confirmed that Adenuga has paid N154 billion for the renewal fees after the report by this newspaper.
Mike Adenuga, founder and owner of Globacom Limited, one of the biggest telecommunication companies in Nigeria, has paid N154 billion to the Nigerian government, which is part of the spectrum license renewal fees for the company after SaharaReporters exposed how the company owed about N200 billion.
SaharaReporters on September 21 reported that sources within the presidency accused the telecoms tycoon 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.
But based on the latest update on Wednesday, top sources confirmed that Adenuga has paid N154 billion for the renewal fees after the report by this newspaper.
“After SaharaReporters’ report on Globacom which broke the back of the horse, Mike Adenuga has paid the government N154 billion with the remaining outstanding to be paid," an authoritative source said. "Additionally, it is confirmed that the Executive Vice Chairman of NCC, Danbatta is to leave his current position in the coming days."
In May 2023, SaharaReporters exclusively 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.
SaharaReporters had learnt that the move was to grant such licences to companies linked to their cronies and associates in the Aso Rock Villa, as well as a close ally of Bola Tinubu, who was the president-elect at the time.
A source within the presidency had confirmed this to SaharaReporters, adding that Pantami and Tunde Yusuf had also been attempting to shift earnings from sales to private bank accounts, which was another attempt to siphon additional public assets before handing over to the incoming government.
This mischief also included a 50% discount on the licence.
In a similar scenario, sources within the presidency had told SaharaReporters that 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.
One of the sources had 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.”