The Nigerian Communications Commission (NCC) and the Corporate Affairs Commission (CAC) direct telecommunications companies to obtain regulatory approval before changing major ownership interests. In a joint statement, the agencies say companies must seek approval before executing share transfers that significantly alter their ownership structure. The directive is presented as taking immediate effect and applies where share transfers reach a specified threshold. Vanguard reports that the approval requirement covers transfers of shares amounting to 10% or more of a telecom company’s total share capital. Premium Times frames the move as aimed at maintaining a fair and competitive market structure in the communications sector. The Daily Post Nigeria similarly reports that the NCC and CAC warn firms against proceeding with proposed transfers without prior approval and highlights the purpose of strengthening regulatory oversight. The statement is jointly signed by NCC’s Director of Public Affairs, Nnenna Ukoha, and CAC’s Head of Public Affairs, Rasheed Mahe. All outlets indicate the agencies issue the guidance to ensure compliance with Nigerian regulatory requirements before significant changes in telecom ownership are implemented.