Tuesday,
December 31, 2019 /09:46 AM / By NAICOM / Header Image
Credit: Maritime Newspaper
1. Introduction
This
Circular is in furtherance to our earlier Circulars referenced
NAICOM/DPR/CIR/25/20 19 dated May 20, 2019 and NAICOM/DPR/CIR/25 - 01/2019
dated July 23, 2019 on the above subject matter.
2. Deadline For Recapitalisation Policy
The
Commission has reviewed the Recapitalisation plans submitted by operators and
various levels of compliance observed. Similarly, it has noted the inputs from
the various engagements with relevant stakeholders. The Commission therefore
hereby extends the recapitalization deadline to December 31, 2020.
3. Escrow Accounts With CBN
The
Central Bank of Nigeria has obliged the Commission with the Recapitalisation
Escrow Account (T24) for the deposit of fresh funds raised for
recapitalisation. Below are the details ofthe T24 account:
T24
Account Name: Recapitalisation Escrow - NAICOM
T24
Account No: 0230164061014
4. Palliative Measures
As
part of the measures to ease the recapitalisation exercise, some of the
relevant Agencies have set up Help Desk to fast track processing of application
for 'No Objection' and for approvals.
Engagements
with these Agencies on other palliatives are on-going.
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