The Nigerian Communications Commission (NCC) has asked telecommunications licensees to regularise any unapproved changes to their shareholding structures that exceed the regulatory threshold within 45days
This move signals tighter oversight of corporate governance in the sector.
The Commission in a public notice published on its official website, said the directive applies to all licensees that have effected changes of more than 10 per cent in their ownership structures without obtaining prior regulatory approval, as required by law.
The regulatory agency stated that the grace period takes effect from the date of publication and is anchored on its statutory powers under the Nigerian Communications Act, 2003. During this window, affected operators are expected to engage with the regulator and regularize any infractions related to unauthorized shareholding changes.
It assured that no sanctions will be imposed for past breaches during the 45 days, offering operators a reprieve. However, it issued a firm warning that enforcement actions will commence immediately after the deadline against any defaulting licensees.
According to the NCC, sanctions will be applied strictly in line with the Nigerian Communications (Enforcement Processes, etc.) Regulations, 2019, which provide the framework for penalties and corrective measures within the industry.
The regulatory notice was also issued pursuant to Regulations 41, 42 and 43 of the Licensing Regulations, 2019. These provisions mandate licensees to obtain the Commission’s prior approval before implementing any significant changes in ownership or control, particularly those capable of influencing management decisions or operational direction.
Industry analysts say the directive reflects a renewed determination by the NCC to strengthen transparency, accountability and investor discipline in Nigeria’s fast-evolving telecommunications market. By enforcing compliance around ownership structures, the regulator aims to prevent opaque transactions that could undermine competition, national security, or consumer protection.
Operators affected by the directive have been advised to act promptly, engage with the Commission, and complete the necessary regularisation processes to avoid penalties once the grace period expires.
