The Nigerian Communications Commission (NCC) has issued a directive requiring all telecommunications licensees that have implemented changes exceeding 10 per cent in their shareholding structures without prior regulatory approval to immediately regularise such actions.
The directive, announced through a public notice published on the Commission’s website, grants affected operators a 45-day grace period to comply, after which sanctions will be imposed on defaulting licensees in line with existing regulatory provisions.
The NCC explained that affected licensees have been granted a 45-day grace period from the date of publication to regularise any unapproved ownership changes that exceed the prescribed threshold.
The Commission clarified that no sanctions will be applied during the 45-day window for past infractions relating to unapproved shareholding changes. However, it warned that enforcement measures will take effect immediately after the grace period expires, with defaulting operators facing sanctions in line with the Nigerian Communications (Enforcement Processes, etc.) Regulations, 2019.
The NCC further noted that the notice is issued pursuant to Regulations 41, 42 and 43 of the Licensing Regulations, 2019, which require licensees to obtain the Commission’s prior approval before carrying out significant changes in ownership or control.
Industry analysts say the directive reflects the regulator’s renewed emphasis on compliance, transparency and sound corporate governance in Nigeria’s telecommunications sector. Licensees have therefore been urged to promptly engage with the Commission to regularise their shareholding structures and avoid penalties once the grace period elapses.
