Notice of sanction for unauthorised Change of Shareholding Structure by Comviva Technologies Nigeria Limited
During the third quarter of 2019, the NCC noticed a breach in the Commission’s regulations on changing a company’s shareholding structure, by Comviva Technologies Nigeria Limited, (Comviva).
Comviva Technologies Nigeria Limited was, therefore, sanctioned and slammed with an administrative fee of N2, 000,000.
In view of Comviva’s uncertain financial situation, however, the Commission approved a monthly payment plan, beginning from September 2019 and ending December 2019, for Comviva, to complete the payment of the penalty fee.
Sanctions for unapproved Joint Venture Agreement between Billyronks Global Limited and Perpetual Communications Limited
Billyronks Global Limited, applied to NCC, for the registration of a Joint Venture Agreement, (JVA), between itself and Perpetual Global Limited, without prior approval. from the Commission.
The Commission, after reviewing the agreements, directed the parties to cease operations and give reasons, why sanctions prescribed in the Regulation, should not be imposed against them.
The Commission, subsequently, held a meeting with Billyronks Global Limited and Perpetual Communications Limited, on July 1, 2019, where the companies, pleaded with the Commission for leniency in its decision, admitting it was a mistake on their part.
It was resolved that both companies should tender letters of apology to the Commission, for executing the joint venture agreement, without prior approval, from the Commission.
Consequently, the Executive Vice Chairman of NCC, approved the issuance of strong warning letters, to the erring companies, when his approval was sought and this was carried out accordingly.
Sanctions for unapproved Joint Venture Agreement between Cybersynch Nigeria Limited and MTN
Again, in the third quarter of 2019, The Commission found out that an unapproved Joint Venture Agreement, was entered into, between Cybersynch Nigeria Limited, (Cybersynch) and MTN.
Cybersynch, a Value Added Service provider, had applied for tariff approval, on its product, Forbes 8 and an agreement, with MTN.
Both companies, were issued pre-enforcement notice, dated July 16, 2019, for contravening condition 11, of the Value Added Service Licence and condition 13, of the Unified Access Service Licence, respectively.
In their response, the companies stated that, the agreement entered, into by Cybersynch and MTN, is not a Joint Venture Agreement, but an agreement executed, for the purpose of providing Value Added Service, within MTN’s network, as defined in the Value Added Services framework and the was established to be so.
The case has been closed and Policy Competition Department, of NCC, advised for the companies to be granted approval.
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