The Nigerian Communications Commission (NCC) says that anyone interested in participating in the forthcoming 3.5GHz spectrum auction for 5G will have to pay the sum of $27.36 million as Intention-to-Bid Deposit (IBD).
In a final Information Memorandum (IM) for the spectrum auction released over the weekend, the NCC emphasised that the deposit must be paid latest by 5 PM on December 5, 2022.
The auction is scheduled to take place on December 19, 2022 and the deposit amount represents 10% of the spectrum’s $273.6 million reserve price.
While NCC stated in the initial IM that licensees with up to 100MHz in the 3.5GHz band will not be eligible to participate in the auction.
