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NCC Okays Transfer Of Visafone Shares To MTN

mtn office

By Modupe Gbadeyanka

Following the takeover of Visafone by MTN, the Nigerian Communications Commission (NCC) has approved the transfer of Visafone shares to MTN as requested.

MTN had written the independent regulatory body for the telecommunications industry in Nigeria to allow it transfer shares of the former CDMA service provider into its own.

But on Tuesday, October 11, 2016, the NCC, in a statement, said it has now given MTN the nod to carry out the request.

Part of the statement read, “The NCC, in line with its procedure granted a Final-Approval to Visafone for the change in its shareholding structure.”

The NCC further said it was yet to approve the request by Visafone to transfer its licence to MTN.

It would be recalled that in January, MTN acquired Visafone.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

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