NCC gives operators 45 days to regularise shareholding structure
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- NCC gives operators 45 days to regularise shareholding structure
By Upfrontdigital News
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By Sola Ishola
THE Nigerian Communications Commission (NCC) has given telecommunications licensees 45 days to regularise more than 10 per cent unapproved changes in their shareholding.
The directive, which was published on the Commission’s website on Monday, is in line with the Nigerian Communications Act, 2003, which stipulates that affected licensees should do the regularisation within the stipulated 45-day grace period.
Specifically, the telecom regulator stated: “All Licensees of the Commission are hereby directed to regularise their more than ten per cent (10 per cent) unapproved change in their shareholding structure within 45 days of this publication.
“During the proposed 45-day grace period, no sanctions will be imposed for any previous infractions in respect of more than 10 per cent unapproved changes in shareholding structure.
“At the end of the grace period, the Commission will impose appropriate sanctions pursuant to the Nigerian Communications (Enforcement Processes etc.) Regulations, 2019,” NCC stated.
Maida, NCC EVC
It clarified that the licensees should note that the notice was brought pursuant to Regulations 41, 42 and 43 of the Licensing Regulations, 2019.