Nitel has been bought by Transcorp with BT (British telecom) as a Technical partner. Finally! Here's hoping the partnership can turn NItel around.

Transcorp Acquires NITEL and MTEL for $750 million in purchase price - BT to Provide Technical Services in the Turnaround
http://www.transcorpnigeria.com/newsevents.asp

I heard OBJ has a significant equity stake in Transcorp. If that's true, then what on earth is this mumbo jumbo trasparency about his administration?

With the arrival of cell phone networks in Nigeria, NITEL, that lumbering dinosaur from a forgotten era that held the country to ransom for decades by ensuring that telephones never worked, should be allowed to sink gracefully into the tar-pits of final bankruptcy and extinction.

As long overdue retribution for their lives of unrepentant crime, all those redundant NITEL employees ought to be rounded up and shipped to slave labor camps to work 18 hour days in the blazing sun breaking stones with their bony craniums under the watchfull eye of sadistic whip-wielding overseers. Privatizing and rehiring such vermin would only prove that there is no justice in this world. Those scum-buckets need to be put out of their misery along with the deceased demon they served, NITEL.

Bros Jakumo,
Nice one there. Hilarious as ever!

ono:

I heard OBJ has a significant equity stake in Transcorp. If that's true, then what on earth is this mumbo jumbo trasparency about his administration?

Otokx, take note!

This thread belongs in the business section

@Nutter

why should i take note? what have to do with this?

You once said an individual single-handedly bought Nicon-Noga.

Let's compare the purchase price to the amount that was rejected during the last auctions.

So what happens to the employees at NITEL?

they finally stole nitel huh? well, their ties hsnt come yet. it will still come. let baba be doing.




all i need is a sniper rifle. and i will kill everyone of them theives. they don steal enuff.

NITEL had to be privatised cos it really 'lost business' when all these GSMs Showed up. They thought they could pick their business up by bringing out their own GSM, which was called "M-Net" if im right?

I guess it just had to be privatised.

not by baba buying it with our money. why not give it to people capable of resurrecting it. must baba have a hand in everything. with his stomach like bore hole.

It is good Transcorp is buying 75% of Nitel for $750M + N60billion in debts is alot. Orascom wanted it for barely $280m.
Secondly Transcorp is not owned by Baba. It is a PLC. Right now Transcorp is doing a public offer, so you can take part. Already a private placement have done and was successful.
Infact we should rejoice that Nitel has been sold.

Obua

OK i am rejoicing NITEL has been sold!!!! I hope TRANSCORP is not government influenced, and i wish the New company all the best. Nigerians deserve better service when it comes to communication.

Nobody answered me oo.

What will happen to the present NITEL employees?

Hot angel

I am sure some will be absorbed by the new company and the rest will be fired.

Wow, ain't that a b!tch?

About 70% of them will go with terminal benefits. The best way is to retrain and  prepare for other activities
If Nitel will have to wake up from an agelong slumber, fresh blood will have to be injected. All Govt firms are overstaffed.
 We  can only be competitive by using modern business methods like outsourcing non core jobs and focussing on core activities.
In the company I work for , we have very few secretaries and no messengers and typists. Every body is a messenger for himself.
In Nitel, you still have typists, messengers  etc.

Corruption in Nigeria is a kind of permanent condition. When you say no condition is permanent, thats for our public enterprises of which Nitel is one.

Lets observe the change, carefully.

Obj well done you have done it again,those your fingers,I wonder when they will stop itching,how long do you have on earth,that you want to acquire the whole Nigeria,well do not worry about who will take care of the world when you are gone,think of those that took care of it before you came into it.Ole

ROSCODADDY:

Obj well done you have done it again,those your fingers,I wonder when they will stop itching,how long do you have on earth,that you want to acquire the whole Nigeria,well do not worry about who will take care of the world when you are gone,think of those that took care of it before you came into it.Ole

They came, they saw and they achieved(?) but are not prepared to leave nothing for the coming generations

L&G,
I do not hold brief for OBJ in any way and  do not support all his programmes.
But I must confess he has made fundamental changes in the way things are done in Nigeria. I might not score hime a pass mark because much more was expected.
But we must confess that OBJ has made reasonable progress compared to those before him. Secondly ,there are almost no stories about  his corrupt practices.
A government owned Nitel has not been able to pay salaries for months  now. Nitel only survived by charging high tarrifs  especially for foreign calls and keeping away phones and other IT services away from the main populace

I do not really see any BIG DEAL in British Telecom B.T's involvement , with so much competitions against them in England where else do expect them to invest in ?

Hot-angel, I have no problem with the mass firing of the under-performing employees of NITEL (and NEPA).

Under-performing employees deserve to be fired. Under-performing companies deserve to be dissolved. That is the path that leads to progress. The resources that are being tied up by under-performers need to be released!

i am with you on that one.

why have resources you dont need just there for no sake? maximize labour and maximize profit. over labour can slow than profit.
labour and profit go together. the quality of labour will determine the quantity of profit. labour is quality not quantity.

there are many modern ways of doing things and naija is lacking in those areas.

This is a news for the Nigerian Populace. It really doesn't matter the hidden agenda behind the deal as long as the socio-economic landscape of the country is revived and revolutionized,

It a good thing that Transcorp have taken over NITEL as we expect a good and quality services from them !

Well, NITEL's been sold . Now that old things have passed away, all things have become new, whats the fate of NITEL?
Some staff has to go and very young, articulate,focused and result oriented people must be sourced to be in that organisation.

Another good thing is that, our stolen funds remains here ! jobs creations. economic development ! healthy competition that leads to improved service delivery, efficiency and in general, stronger communication sector of the economy.

Ofcourse,trancorp is government influenced especially when some key government officers has stakes in transcorp but, its all good for naija as funds syphoned is re - invested in the same economy.

i should think British telecom would inject the professionalism required, right?

dipotepede:

This is a news for the Nigerian Populace. It really doesn't matter the hidden agenda behind the deal as long as the socio-economic landscape of the country is revived and revolutionized,

Good talk

Lets keep our fingers crossed as to what the performance would be like.

Best of luck to them !

Cheers

N6 billion scam discovered at Nitel.

Less than 24 hours after the privatisation of the troubled NITEL, a gale of financial malfeasance running into billions of Naira ripped opened at the Abuja headquarters of the organisation triggering the sudden resignation of eight of its top management staff.
http://www.sunnewsonline.com/webpages/news/national/2006/july/06/national-06-07-2006-008.htm

Good development ! we could be sure more of such things would be revealed !

NITEL bought by Transcorp.

My reaction: So freaking WHAT?

NITEL has already sunk into irrelevance with the advent of private phone operators, so I could care less who owns them or what they do. I don't have any confidence in Transcorp anyway, since it appears to be a Frankenstein's monster kind of corporation - created by government fiat with Nigerian businessmen [who already have their own companies in which their primary interests lie] as directors.

Perhaps NITEL will drive the expansion of a data network infrastructure by laying fibre optic cables so that internet access costs will fall,  but I don't think so - I think their primary concern will be making money quickly from easy-to-setup mobile voice networks. Anyway, I think Globacom are already ahead of them as far as rolling out fibre optic cables is concerned.

Yep, I could freaking care less. . .