By Oluwakemi kindness
The Nigerian Communications Commission, NCC, and the Corporate Affairs Commission, CAC, have introduced stricter regulations governing ownership changes in telecommunications companies operating in Nigeria.
Under the new directive, any transfer of ownership involving ten percent or more of the shares in a licensed telecommunications company must first receive a Letter of No Objection from the NCC before the transaction can be approved and registered by the Corporate Affairs Commission.
In a joint statement on Monday, both regulatory agencies, says the measure is aimed at strengthening oversight within the telecommunications sector and preventing anti-competitive practices that could threaten fair competition in the industry.
The NCC stated that the new requirement will enable regulators to closely monitor significant changes in ownership and control of telecom companies, ensuring that such transactions do not negatively affect consumers, investors, or the overall market structure.
The Corporate Affairs Commission will now require evidence of NCC approval before processing any request involving a share transfer of ten percent or more in licensed telecommunications companies.
The agencies say the policy will promote transparency, enhance investor confidence, improve regulatory certainty, and safeguard the long-term stability of Nigeria’s communications sector.
The NCC and CAC reaffirmed their commitment to maintaining a transparent, competitive, and sustainable telecommunications industry that continues to support economic growth and digital development across the country.
Industry observers say the development signals a more proactive regulatory approach to monitoring who owns and controls key telecommunications assets in the country.
