While receiving members of the Ministry of Information at the presidential villa today August 18th, President Buhari ordered a probe on the sale of NITEL to private investors in 2014 by the last administration, stating that he wants to know if Nigeria was short-changed.
"The president was also concerned about the liquidation of NITEL. He is not opposed to its privatization but he wants to know… and he wants us to bring a memo on how the whole transaction was undertaken so that he would know whether Nigeria was short-changed,” he said.
NITEL and its sister company, MTEL, were bought by a consortium owned by Skye Bank’s chairman, Tunde Ayeni, the founder of Sahara Energy, Tonye Cole, and two other companies for $242.3 million (about N42.4 billion) in December 2014.
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