wirinet:

False.

You people just make up stories from your head.
Glo was not even available for the first round of bidding in 2001. The three companies that won the 2001 bid of $275 million was Econet, MTN and Communications Investment Limited (CIL). CIL belonged to Mike Adenuga. CIL could not meet up with the payments and it lost its license. A year later Mike Adenuga through Globacom win the license as the Second national carrier for $200million. He started operations in 2003.
You can read more here - https://www.vanguardngr.com/2012/09/adenuga-the-grand-commander-of-telcos/amp/

Which $20 million did it forfeit for the license? CIL could not pay the $20 million.

False?

What you read as history, I witnessed and partook in as current affairs.

At the auction held in Jan 2001, Four (not 3) licences were sold at $285m (not $275m) each.

The successful bidders were Mobile Telecommunications Networks (now MTN), Econet Wireless (presently Airtel), Communications Investment Limited (later resurfaced as Globacom) and Nigerian Mobile Communications (now Ntel).

The licence of Nigerian Mobile Telecommunications, a subsidiary of Nitel now Ntel was paid for by the government because it was government owned up to 2015.

Before, the companies could bid, each was required to deposit $20m in bank bond. If you bid and don't win, your bank bond would not be called in but if you win, your bank bond would be called in immediately and you are to pay the balance of $265m within 3 weeks otherwise you forfeit the deposit of $20m. Those of United Networks and Celtel were never called in because they didn't win.

Communications Investment Ltd owned by Adenuga won but later found out within the 3 weeks that it was to pay its balance that the particular frequency sold to it was being contested in court by another company - Motophone owned by Chagourys, that claimed it was already sold to it by Abacha.

CIL instructed its bankers - BNP Paribas to inform Nigerian government banker - Chase Manhattan that payment would be released to Chase if govt issued indemnity to CIL.

On February 9 2001, Ndukwe of NCC announced that as at deadline on that day, Chase Manhattan had not received the balance from CIL and thus the license is cancelled and the deposit of $20m forfeited.

Even with hues and crying of the public, NCC and government maintained its stand and the forfeiture stood.

CIL was allowed in 2002 to bid as Global Communications limited to win an all encompassing second national carrier license on the same litigious frequency of 2001 but this time, government gladly gave an indemnity.

So, they couldn't give it to airtel, Glo etc, mafab that just came out 6 months ago grabbed it because the company is more Islamic. Una well done!