By George Ozalla
The Nigerian Communications Commission (NCC) has rolled out fresh corporate governance rules aimed at boosting regulatory oversight in the telecommunications industry. The new guidelines are designed to enhance transparency, internal controls, and risk management, ultimately improving long-term business sustainability and service quality.
Key provisions of the new rules include the separation of chairman and CEO roles, appointment of boards with a mix of executive, non-executive, and independent directors with expertise in ICT and cybersecurity, and strengthened internal audit functions. Telecom operators will be required to submit mid-year and annual compliance reports certified by their boards, with sanctions to be applied for non-compliance.
The NCC emphasized that robust governance frameworks consistently outperform peers in service delivery, financial management, and regulatory compliance. Given the critical role of the telecom industry in supporting key pillars of Nigeria’s digital economy, including finance, education, healthcare, and government services, the commission believes these new guidelines will promote good corporate governance practices, boost investor confidence, and enhance the overall sustainability of the industry.
