This paper examined the major patterns of broadcast regulation in Nigeria, their operational dynamics and their implications for professionalism, accountability and broadcast media freedom. Through the lens of Social Responsibility Theory, it conceptualised broadcast regulation as a multilayered system comprising self-regulation, internal regulation, statutory regulation and co-regulation. The study adopted a qualitative case-study design, with data generated through semi-structured interviews involving 15 purposively selected broadcast experts and scholars. The data were analysed using thematic analysis. Findings showed that broadcast regulation in Nigeria operates through a combination of individual professional responsibility, organisational control mechanisms, statutory oversight by the National Broadcasting Commission and stakeholder participation in regulatory processes. Licensing procedures, compliance with the Nigeria Broadcasting Code, consultations and enforcement were identified as the major operational frameworks of regulation. However, political interference, selective enforcement and the limited autonomy of the National Broadcasting Commission emerged as significant challenges. Although the regulatory system contributes to professionalism and accountability, ownership influence, regulatory bias and excessive government involvement undermine broadcast media freedom and public confidence in the regulatory process. The paper concluded that effective broadcast regulation in Nigeria requires a balanced integration of self-regulation, internal regulation, statutory regulation and co-regulation. It recommended strengthening the institutional independence of the National Broadcasting Commission to ensure fair, transparent and credible regulation that promotes both professional standards and broadcast media freedom.