THE British firm International London Limited (ILL) has paid 10% of the $1,3-billion it bid for a majority stake in the Nigeria’s telecoms firm Nitel, officials said on Wednesday. “We received confirmation this morning from the New York branch of Standard Chartered Bank that ILL paid 10% of the bid yesterday (Tuesday),” said Bureau of Public Enterprises (BPE) representative Joe Anichebe. “The balance of $1,185-billion is to be paid for by ILL within 90 days from 29 November when the transaction documents were signed,” Anichebe said. Anichebe said the BPE, the nation’s privatisation agency, had a programme to assist in managing the transition of Nitel from a wholly owned government enterprise to one driven by the private sector. He said the World Bank had offered to pay for all expenses incurred by the BPE in the execution of the programme, to be deducted from a $114-million privatisation credit. – AFP