BY NKECHI NAECHE-ESEZOBOR—The Nigerian Communications Commission (NCC) and the Corporate Affairs Commission (CAC) have introduced a fresh compliance framework requiring telecommunications operators to secure regulatory clearance before executing substantial changes in their ownership structures.
The new measure, which takes immediate effect, was announced in a joint statement signed by the NCC’s Director of Public Affairs, Nnenna Ukoha, and the CAC’s Head of Public Affairs, Rasheed Mahe, on June 21, 2026.
Under the arrangement, licensed telecommunications companies intending to alter shareholding interests representing 10 per cent or more of their issued share capital must first obtain a Letter of No Objection from the NCC. The CAC will only process and register such transactions upon presentation of the commission’s approval.
According to the two agencies, the requirement is anchored on provisions of the Nigerian Communications Act 2003, the Competition Practices Regulations 2007, and the Licensing Regulations 2019, which empower the NCC to oversee transactions involving licensees and safeguard competition within the communications sector.
The regulators explained that the initiative is designed to strengthen monitoring of significant corporate restructuring activities and prevent actions that could undermine market competition.
The statement noted that the CAC would henceforth require documentary evidence of the NCC’s consent before effecting any qualifying alteration in the ownership composition of telecommunications firms.
The agencies further stated that the enhanced oversight mechanism is expected to improve transparency, deepen investor confidence, provide greater regulatory certainty, and support the long-term stability of Nigeria’s telecommunications industry.
They added that the collaboration between both institutions underscores their commitment to promoting sound corporate practices, ensuring compliance with applicable regulations, and fostering a conducive environment for sustainable sector growth.
The NCC and CAC reaffirmed their resolve to continue working together to maintain a transparent, predictable, and investment-friendly business climate while supporting the orderly development of the country’s communications ecosystem.
