THE Nigerian Communications Commission (NCC) and the Corporate Affairs Commission (CAC) have introduced new compliance requirements governing changes in the ownership structure of licensed telecommunications companies in Nigeria.
News Point Nigeria reports that the new framework mandates that any proposed transfer of ownership or control of shares amounting to 10 per cent or more of the total share capital of a telecom licensee must now receive prior approval from the NCC before such changes can be effected or registered.
In a joint statement issued on Sunday, both agencies said the directive is backed by Section 90 of the Nigerian Communications Act (NCA) 2003, Regulation 28(2) of the Competition Practices Regulations 2007, and Regulation 42 of the Licensing Regulations 2019.
According to the notice, “effective immediately” any transfer of ownership or control of shares in a licensed telecom operator amounting to 10 per cent or more of total share capital—along with any series of transfers that collectively exceed the threshold—must obtain a Letter of No Objection from the NCC before being registered with the CAC.
The agencies further explained that the CAC will henceforth ensure that all applications for changes in shareholding structure meeting or exceeding the 10 per cent threshold must be supported with evidence of NCC’s prior consent and approval before registration is completed.
They noted that the new requirement is designed to preserve a fair and competitive market structure within the communications sector by preventing direct or indirect anti-competitive practices while strengthening regulatory oversight over significant ownership and control changes.
The NCC and CAC added that the measure will also promote transparency, boost investor confidence, and enhance regulatory certainty, while safeguarding the long-term sustainability and stability of Nigeria’s telecommunications industry.
Both agencies reaffirmed their commitment to building a transparent, stable, and competitive business environment in the country, stressing that they will continue working closely to ensure fair market practices and the orderly, sustainable development of the communications sector.
