Fidelity bank banner UBA banner
Phase3 rubbishes FG’s claim of owing N27.2bn over fibre optic agreement

By News Express on 18/01/2018

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 597

 Independent fibre optic infrastructure and telecommunications services provider, Phase3 Telecom, has firmly refuted wrong allegations that it and Alheri Engineering limited owe Federal Government of Nigeria the sum of $75,500,000.00 million (about N27.18billion at N360 to $1) over fibre optic agreement with Transmission Company of Nigeria (TCN).

In a statement released by the company recently, it describes the claim by a section of the news media as scurrilous and unmerited while assuring its clients as well as members of the general public that those accusations were “unmerited insinuations that are far from true but intended to obscure what the real issues are…and should be promptly disregarded”.

Further to these, the company also chose to state that despite deployment challenges which include multi-year delays in linesmen allocation by TCN and devaluation/depreciation of the national currency; Phase3 has ensured that all undisputed payments such as total concession fee payment, royalties, and rental payment for equipment space to TCN were up to date.

That although a dilapidated fiber optic network was inherited from TCN, Phase3 has however, deployed a total of 2000km and installed state-of-art transmission equipment along with the rehabilitation of the existing fiber which has seen concessionaires expend more than $100m as capital and operating expenditure on the project.

The company stressed that the cause for unfounded allegations by TCN is due to its resistance of the harmonisation of right of way charges for deployment of fiber optic cables as agreed and communicated by the National Economic Council towards affordable broadband services in the country.

A development that necessitates a review of the Right of Way (Row) charges for deployment of fiber optics on power lines (concession fees) to be at par with other RoW charges available in the telecom industry.

While affirming that Phase3 has always honoured the terms of the concession agreement with TCN in line with kilometer of fiber available as well as market realities and most imperatively the contract review process towards ensuring the success of this project for the overall benefit of the country under the supervision of the Infrastructure Concession Regulatory Commission (ICRC), the regulatory agency that is saddled with the responsibility of the review process.

Strongly maintaining that Phase3 has never and will never involve itself in such revolting act as defrauding TCN; as its unwavering commitment has always been to proffer affordable and robust service solutions that will see customers and other businesses rapidly leverage the opportunities of reliable broadband internet across Nigeria.


Source News Express

Posted 18/01/2018 12:32:05 PM


Share on facebook Yahoo mail icon Gmail icon Share on Google+




You may also like...
REVEALED: How G8 countries & China flood Nigeria...

UN chief ‘deeply troubled’ by Journalist Khashoggi’s murder...

PDP chieftain kidnapped

Defence Intelligence Agency begins overhaul of intelligence gathering,...

Dogara asks Nigerians to be patient with APC...

Appointment of VC: I’m ready for war with...

Jammeh incommunicado: UN Secretary-General

N3.2bn Fraud: More trouble for Orji Kalu

Why we won’t devalue the naira —Buhari

5 runaway prisoners land in police net in...

AY links low quality movie production in Nigeria...

Transparency International indicts Govs, Security Chiefs in N250bn...


Latest News 2019: Buhari floors Atiku in UK poll PDP loses all elections held on Saturday SERAP asks INEC to probe ‘campaign spending by Saraki, other contributions’ Atiku/Obi Advocacy Group flays Buhari over ‘despotic and totalitarian’ statement 2019: Don’t vote for any APGA candidate, Uwazuruike tells BIM-MASSOB members Nigerians want proper agenda not propaganda, Atiku tells Buhari Fire destroys 77 shops in Kano market 2019: The irony of a Buhari’s second term as campaign begins, By Rev. Fr. Evaristus Bassey Hypocrisy of Western countries on MTN $8.1 billion fine, by Femi Falana Unidentified gunmen kill Gov. Bello’s aide in Okene Crisis trails INEC listing of Imo SDP guber candidate Nigeria may become desert, NCF warns


Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (421,976 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (390,417 views) Shameless Genevieve Nnaji exposes breasts in public (323,426 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (271,901 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (244,475 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (227,635 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (209,320 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (190,888 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (176,148 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (168,728 views) Lagos plane crash: Journalist releases victims’ names (165,295 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (152,155 views)


Zenith Zero Balance First Bank chat banking


Categories Advertorials (3) African Press Organisation (81) Art & Literature (74) Business & Economy (3,798) Business Verdict (54) Columnists (964) Complaints & Requests (94) Enterprise & Opportunities (208) Entertainment (567) Features (669) Global Business Monitor (310) International (2,694) Interview (167) Live Commentary (28) Love Matters (146) Maggie's Blog (38) News (40,637) Opinion (1,144) Pidgin (13) Politics (7,780) Religion (901) Sports (1,780) Stock Watch (35) AMA & Al Jazeera Global Update





APO Group Partner




GOCOP Accredited Member

GOCOP Accredited member



Africa Media Agency and Al Jazeera