The management of the Transmission Company of Nigeria has expressed confidence in the judicial system regarding the termination of the fibre optic concession contract.
The TCN said in a statement on Friday that its attention had been drawn to the recent misrepresentation in media publications of the operation of its terminated fibre optic concession contract.
“It is imperative to state that the issue in question is before a competent court of law. The TCN has confidence in our court system and is sure that justice will prevail based on the very clear facts of the case,” it said.
The Federal Government announced this week that it had terminated the concession contracts for the management of Fibre Optic Network of the TCN.
The contracts were awarded to Alheri Engineering Company Limited and Phase3 Telecom Limited.
The Minister of Works, Power and Housing, Mr. Babantunde Fashola, had in a letter to President Muhammadu Buhari, dated October 31, 2017, with reference number FMP/OPS/05/1, faulted the process of the concession, saying there was a breach of the agreement as well as conflict of interest in the entire transactions.
“I write to respectfully draw your attention to ongoing efforts by the management of the TCN to enforce its termination of two failed fibre network concession agreements, recover its outstanding concession fees in the sum of $75.5m (N27.2bn) from the two concessionaires, and take position of and commercialise its critical fibre optic infrastructure, which are essential for the stability and optimisation of the national grid,” the minister said.
Both Alheri Engineering and Phase3 Telecom have denied owing the Federal Government N27.2bn.