Telecom Firms Must Now Secure NCC & CAC Approval for Ownership Changes Over 10%

The Nigerian Communications Commission and the Corporate Affairs Commission now require prior approval for any significant change in telecom company ownership. Companies must obtain a Letter of No Objection from the NCC before transferring 10% or more of their share capital. This policy covers single transactions and multiple transfers that collectively exceed the 10% threshold. The CAC will refuse to register share transfers without proof of NCC approval under the Nigerian Communications Act 2003 and related regulations. The agencies say the measure aims to prevent anti-competitive practices, strengthen market oversight, and boost transparency, investor confidence, and regulatory certainty in the sector.

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