Nigeria’s House of Representatives calls on the Nigerian Communications Commission to delay SIM card reassignment and enhance data protection measures to curb fraud and identity theft.
The Nigerian Communications Commission (NCC) and the Corporate Affairs Commission (CAC) have introduced stricter regulations governing ownership changes in telecommunications companies operating in Nigeria.
Under the new directive, any transfer involving 10 percent or more of the shares in a licensed telecommunications company must obtain a Letter of No Objection from the NCC before the Corporate Affairs Commission can approve and register the transaction.
In a joint statement issued on Monday, both regulatory agencies said the measure aims to strengthen oversight within the telecommunications sector and prevent anti-competitive practices that could undermine fair competition.
The NCC said the new requirement would enable regulators to closely monitor significant changes in the ownership and control of telecom companies, ensuring that such transactions do not adversely affect consumers, investors, or the overall market structure.
Under the arrangement, the Corporate Affairs Commission will require evidence of NCC approval before processing any request involving the transfer of 10 percent or more of shares in licensed telecommunications companies.
The agencies said the policy would promote transparency, boost investor confidence, improve regulatory certainty, and safeguard the long-term stability of Nigeria’s communications sector.
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The NCC and CAC reaffirmed their commitment to maintaining a transparent, competitive, and sustainable telecommunications industry that supports economic growth and digital development across the country.
Industry observers say the development signals a more proactive regulatory approach to monitoring ownership and control of critical telecommunications assets in Nigeria.
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