NCC, CAC tighten rules on telecom ownership changes

The Nigerian Communications Commission (NCC) and the Corporate Affairs Commission (CAC) have introduced stricter requirements for changes in the ownership structure of telecommunications companies, mandating prior regulatory approval for major share transfers.
In a joint statement signed by NCC Director of Public Affairs, Nnena Ukoha, and CAC Head of Public Affairs, Rasheed Mahe, and made available to Daily Sun on Sunday, both agencies said any proposed transfer of shares amounting to 10 per cent or more of the total share capital of a company licensed by the NCC must first receive a Letter of No Objection from the telecom regulator before the transaction can be registered by the CAC.
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