MAFAB Communications Limited which has existed for only 16 months will pay a whopping $273m to acquire one of the slots of Nigeria’s 3.5 GHz Spectrum for the deployment of 5G.

The Nigerian Communications Commission conducted a bid for the three companies that met its bidding requirement for the auction which took place on Monday.

Airtel Networks Limited, Mafab Communications Limited and MTN Communications Nigeria Limited competed in the bid.

Globacom (Glo) and 9Mobile surprising did not meet the requirement according to the NCC.

The winning bid price for the auction was $273,600,000 for each lot of 100 MHz TDD, NCC said in a statement.

But there are questions on the capacity of Mafab who has only 16 months to acquire and exploit the 3.5 GHz spectrum for the deployment of 5G in the company.

Mafab and MTN won the bid and are required to pay $273.6m by February 24, 2022.

As of the time of filing the report, Mafab’s website has exceeded its Bandwidth Limit, THE WHISTLER confirmed.

Mafab’s registered office is at No. 8A Ibiyinka Olorunbo Close, Off Amodu Ojikutu Street, Victoria Island, Lagos.

This is according to the company’s CAC document seen by THE WHISTLER.

The CAC document revealed that the company is a new entrant in the telecommunication sector with the date of registration being on July 8, 2020.

According to details on its website, “Althani group of companies is a corporate group of companies in Nigeria with a collection of subsidiary businesses.

“The group consists of a variety of companies with diverse objectives, cutting across several sectors including oil and gas, housing, construction, aviation, amongst others.”

The group’s subsidiaries include Eman Homes and Estate, Althani Investment, Salam Takaful Insurance, Malband Communications Limited, Holborn Oil and Gas international, Althani Oil and Gas Limited, Althani Shelters Limited, Pelican Air Services Limited, Cryogenic Industries Limited, Clearview Apartments, and Mafab Communications.

Dr Musbahu Mohammad Bashir, Chairman of Althani Group owns Mafab and he is one the persons with significant control.

Bashir is a board member of Jaiz Bank. He is also a Director in the following companies, Bento Drill Nigeria Limited 1995, Offshore Technologies International Limited 1995, and Resource Capital Group 1995.

The businessman is also the Chairman of Cobalt International Services Limited, a pre-shipment Inspection Agent for dry goods and bulk liquid cargoes.

Bashir’s Altani Group

Mafab Communications is a subsidiary of Altani Group incorporated to operate International Data Access Service Service.

The company provides international gateway for interconnection of voice, video and data service termination between and also provides a platform for worldwide interconnectivity.

Another subsidiary under the Group is Malband Communications Ltd.

Malband undertakes ICT Consultancy services, e-learning research, data processing and has the NCC licence for Value Added Services.

About Musbahu Muhammad Bashir

Musbahu Muhammad Bashir serves as chairman on the board of his two companies — Althani Group of Companies and Cobalt International Services Limited, a pre-shipment inspection agent currently inspection agent for oil and gas exports in the country.

The business magnate is also a director at Bento Drill Nigeria Limited, Offshore Technologies International Limited, and Resource Capital Group.

At Jaiz bank, a Nigerian bank operating under Islamic banking principles and a non-interest bank, Bashir also serves as a member, board of directors.

He is the chairman, board of directors of Salam Takaful Insurance, a subsidiary of Althani group of companies, headquartered in Kano State.

The insurance firm was incorporated in 2016 — operating both family and general Takaful Insurance as well as retail Takaful line of business with a wide range of products.

Takaful is a sharia law-compliant insurance structure in which members agree to provide insurance for one another by contributing to a pool of funds that are used to recompense participants who suffer a loss.

Bashir worked with Hammad Development Facilities in 1987 and Jadai Diversified Services in 1989.

Bashir has vast experience of more than twenty years in general management, leadership, and engineering, according to details on the company’s website.

He has attained several certifications from high-profile institutions, including American University, London, and Harvard Business School, USA.

In a post, the Althani Group describes Bashir as undoubtedly a hardworking, resilient, and effective businessman with a strong personality.