The Nigerian Communications Commission (NCC) and the Corporate Affairs Commission (CAC) have introduced a new compliance requirement for telecommunications companies operating in Nigeria.
In a joint statement issued Sunday, June 21, 2026, in Abuja and signed by Mrs. Nnenna Ukoha (NCC Director of Public Affairs) and Mr. Rasheed Mahe (CAC Head of Public Affairs), the agencies said telecom operators must obtain a Letter of No Objection from the NCC before transferring shares that equal or exceed 10% of a company’s total share capital.
The rule, grounded in the Nigerian Communications Act (NCA) 2003 and related regulations, takes effect immediately for all NCC‑licensed companies proposing changes in ownership or control.
It also applies when several smaller transfers, taken together, surpass the 10% threshold.
The statement says CAC would ensure shareholding change requests have evidence of NCC approval before registration.
It notes that the policy would prevent direct or indirect anti-competitive practices in the sector.
“The requirement is designed to preserve a fair and competitive market structure within the communications sector,” the statement notes.
It added that the move would strengthen oversight of ownership and control changes.
It says the policy would improve transparency, investor confidence and regulatory certainty in the industry, stressing that the initiative would safeguard the long-term stability of Nigeria’s communications sector.
It reaffirms the commitment of NCC and CAC to a transparent business environment, adding that both agencies would continue working together to promote fair market practices.
The collaboration, the statement concludes, would support the orderly and sustainable growth of the communications industry.
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