NCC, CAC require approval for telecom share transfers above 10%

By Juliet Umeh
The Nigerian Communications Commission (NCC) and the Corporate Affairs Commission (CAC) have directed telecommunications companies to obtain regulatory approval before executing any transfer of shares amounting to 10 per cent or more of their total share capital.
The directive, which takes immediate effect, is aimed at strengthening regulatory oversight, preserving competition, and improving transparency in Nigeria’s communications sector.
In a joint statement issued on Sunday, both agencies said any proposed transfer of ownership or control in an NCC-licensed company involving 10 per cent or more of its share capital must first receive a Letter of No Objection from t...