By Shareholding structures of telecommunications companies that are above 10 per cent, and without its authorization have up to 45 days to regularize same.
In a notice issued by the Nigerian Communications Commission (NCC) and published on its website, the Commission warned of sanctions against erring organisations
The notice, stated: “All Licensees of the Commission are hereby directed to regularize their more than Ten Per cent (10%) unapproved change in their Shareholding structure within 45 days of this publication.”
According to the NCC, during the proposed 45-days grace period, no sanctions will be imposed for any previous infractions in respect of more than 10% unapproved change in Shareholding Structure.
However, the regulator said: “At the end of the grace period, the Commission will impose appropriate sanctions pursuant to the Nigerian Communications (Enforcement Processes etc.) Regulations, 2019.”
