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FG, Senate head for showdown - Over revocation of sale of NITEL - As fear grips investors

NIGERIAN TRIBUNE "THE Senate appears to be heading for a showdown with the Federal Government over the decision of the government to revoke the sale of NITEL to Transnational Corporation (Transcorp).
The Chairman, Senate Committee on Privatisation, Senator Ayo Arise, has faulted the decision of the Federal Government to reverse the sale of the Nigerian Telecommunications (NITEL), declaring that the reversal did not conform with international norms and standards. He said that the Senate might review the privatisation law if it was discovered that there was a breach by the government in effecting the reversal of the sale of NITEL."

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