The Nigerian Communications Commission (NCC) has unveiled tougher corporate governance guidelines for telecom operators across the country, aiming to enhance transparency, risk management, and long-term business sustainability.
At the launch of the 2025 Corporate Governance Guidelines in Lagos, NCC Executive Vice Chairman Dr. Aminu Maida emphasized that these rules are critical for strengthening investor confidence and improving overall service quality in the telecom sector. He explained that good governance is no longer optional but a strategic necessity given Nigeria’s digital economy and rising cybersecurity risks.
Key changes include the requirement for telecom boards to have a balanced mix of executive, non-executive, and independent directors with expertise in ICT and cybersecurity. The roles of Chairman and CEO must be separate to ensure clearer accountability. Moreover, telecom companies must bolster their internal audit functions and regularly submit compliance reports certified by their boards.
Dr. Maida shared findings from an internal NCC review linking strong governance to better business performance in service delivery and financial management. While admitting some operators may face initial challenges adapting, he stressed the benefits far outweigh any short-term disruption.
The NCC warned that enforcement of the new rules will be strict, with sanctions for non-compliance after remediation periods.
Industry leaders like Senior Advocate Prof. Fabian Ajogwu and Titus Osavwe from the Financial Reporting Council praised the reforms as timely updates that address emerging issues such as AI, cybersecurity, and environmental governance.
The NCC pledged ongoing stakeholder engagement and technical support as they roll out these governance reforms, marking a significant step toward a more transparent and reliable telecom sector in Nigeria.
