NITEL/Transcorp's woes exacerbate with the news that the unpaid bandwidth charges (to the tune of US$4m) for the submarine cable SAT-3 may lead to closure of the data pipe. This would be almost a doomsday scenario for Nigeria, effectively turning off the lights for the telecoms sector on the global map. Transcorp's lack of working capital to push in to NITEL is leading to increasing vulnerability in the number one telecoms operator. The two rival submarine cables, Glo1 (Globacom) and Festoon, cannot come on stream fast enough!
Ethelberts Menswear, Nigeria
18 hours ago