The Nigerian Communications Commission (NCC) has issued a 45-day period to all its licensees that have effected changes exceeding ten per cent in their shareholding structures without prior regulatory approval to immediately regularise such infractions.
NCC stated that the 45-day grace period, published on its website, www.ncc.gov.ng, was issued in exercise of its statutory powers under the Nigerian Communications Act, 2003.
According to the Commission, affected licensees are granted the 45-day grace period from the date of publication to regularise any unapproved changes in their shareholding structures that exceed the 10 per cent threshold.
NCC clarified that no sanctions will be imposed during the 45-day window for any previous infractions relating to unapproved shareholding changes above the prescribed limit.
It, however, warned that appropriate sanctions will be enforced immediately after the expiration of the grace period against defaulting operators.
The sanctions, the Commission stated, will be applied in line with the Nigerian Communications (Enforcement Processes, etc.) Regulations, 2019.
The telecoms regulatory agency further stated that the notice was issued pursuant to Regulations 41, 42 and 43 of the Licensing Regulations, 2019, which require licensees to obtain prior approval from the Commission before effecting significant changes in ownership or control.
Industry observers noted that the directive underscored the NCC’s renewed focus on regulatory compliance, transparency, and corporate governance within Nigeria’s telecommunications sector.
The licensees were therefore advised to promptly engage with the Commission to regularise their shareholding structures and avoid penalties once the grace period lapses.
