Amanze Chinonye
The Nigerian Communications Commission (NCC) and the Corporate Affairs Commission (CAC) have introduced a new compliance requirement mandating telecommunications companies to obtain regulatory approval before effecting significant changes in their ownership structures, Prime Business Africa reports.
In a joint statement dated Sunday, June 21, 2026, and signed by NCC Director of Public Affairs, Nnena Ukoha, and CAC Head of Public Affairs, Rasheed Mahe, the two agencies announced that any transfer of ownership or control involving 10 per cent or more of the total share capital of a company licensed by the NCC must receive a Letter of No Objection from the telecommunications regulator before the transaction can be registered by the CAC.
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According to the two agencies, the requirement takes immediate effect and applies not only to single transactions involving 10 per cent or more of a company’s shares but also to multiple share transfers that cumulatively exceed the threshold.
The NCC and CAC said the measure is backed by Section 90 of the Nigerian Communications Act 2003, Regulation 28(2) of the Competition Practices Regulations 2007, and Regulation 42 of the Licensing Regulations 2019, which empower the communications regulator to review transactions affecting licensed operators and safeguard competition in the sector.
Under the new arrangement, the CAC will require telecommunications companies seeking to register changes in shareholding structures of 10 per cent or more to provide evidence that they have obtained the NCC’s prior consent and approval.
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The commissions explained that the policy is aimed at strengthening regulatory oversight of significant ownership changes within the communications industry while preventing direct or indirect anti-competitive practices.
They noted that the requirement would also enhance transparency, improve investor confidence, provide greater regulatory certainty, and support the long-term stability and sustainability of Nigeria’s telecommunications sector.
Reaffirming their commitment to maintaining a transparent and competitive business environment, both agencies said they would continue to collaborate closely to ensure fair market practices and support the orderly development of the communications industry.
Amanze Chinonye is a Staff Correspondent at Prime Business Africa, a rising star in the literary world, weaving captivating stories that transport readers to the vibrant landscapes of Nigeria and the rest of Africa. With a unique voice that blends with the newspaper's tradition and style, Chinonye's writing is a masterful exploration of the human condition, delving into themes of identity, culture, and social justice. Through her words, Chinonye paints vivid portraits of everyday African life, from the bustling markets of Nigeria's Lagos to the quiet villages of South Africa's countryside . With a keen eye for detail and a deep understanding of the complexities of Nigerian society, Chinonye's writing is both a testament to the country's rich cultural heritage and a powerful call to action for a brighter future. As a writer, Chinonye is a true storyteller, using her dexterity to educate, inspire, and uplift readers around the world.
