The 2012 Ligue 1 champions, who are currently sixth in the French top flight, lost Siaka Tiene and Jamel Saihi this month due to their commitments in Equatorial Guinea with Cote d'Ivoire and Tunisia respectively.
Senegal have already been caught up in a row with West Ham over striker Diafra Sakho, with the player being ruled out of the tournament with injury only to score the winning goal for the Hammers in the FA Cup last weekend.
And Nicollin has now stated he will not risk signing any more players who could potentially leave Montpellier during the heart of the season for future tournaments.
"I think that, ultimately, Saihi can stay in Tunisia if he likes. I don't understand how you can leave a club for so long in the middle of the season. It could destabilise the group," he was quoted as saying by Midi Libre.
"In future, I won't buy any more players who play in the Africa Cup of Nations, that is clear."
