NCC Gives Licensees 45 Days to Regularize Unapproved Shareholding Changes
The directive aligns with Regulations 41, 42, and 43 of the Licensing Regulations, 2019, and underscores the NCC’s commitment to ensuring transparency, regulatory compliance, and corporate governance among all licensees operating in Nigeria’s telecommunications sector.
The Nigerian Communications Commission (NCC) has issued a directive requiring all licensed telecommunications operators to regularize any unapproved shareholding changes exceeding 10% within 45 days of the publication on the Commission’s website.
According to the notice, the 45-day period serves as a grace period during which no sanctions will be imposed for previous infractions related to unapproved changes in shareholding structures. After the expiration of this period, the Commission has stated that it will enforce appropriate sanctions under the Nigerian Communications (Enforcement Processes etc.) Regulations, 2019.
The directive aligns with Regulations 41, 42, and 43 of the Licensing Regulations, 2019, and underscores the NCC’s commitment to ensuring transparency, regulatory compliance, and corporate governance among all licensees operating in Nigeria’s telecommunications sector.
