The Nigerian Communications Commission (NCC) has given telecommunications licensees in the country a 45-day ultimatum to regularize any unapproved changes in their shareholding structures.
The directive which was published on the Commission’s website is in line with the Nigerian Communications Act, 2003, which stipulates that affected licensees should do the regularization within the stipulated 45-day grace period.
The Commission however warned that appropriate sanctions will be enforced at the expiration of the 45-day window, in line with the Nigerian Communications (Enforcement Processes, etc.) Regulations, 2019, against any licensee that fails to comply.
The notice further clarified that the directive is issued pursuant to Regulations 41, 42 and 43 of the Nigerian Communications (Licensing) Regulations, 2019, and all licensees are advised to take immediate steps to ensure full compliance.