The Nigerian Communications Commission (NCC) has introduced a new set of corporate governance rules for telecom operators, aiming to improve transparency, internal control, and risk management within the fast-evolving telecommunications sector.
At the formal launch of the 2025 Guidelines on Corporate Governance in Lagos, NCC’s Executive Vice Chairman, Dr. Aminu Maida, stated that the revamped framework is designed to foster long-term sustainability, enhance investor confidence, and improve overall service quality. He emphasized that corporate governance is now a strategic requirement for the sector, especially in light of increasing risks like cyber threats, energy costs, climate change, and surging consumer expectations.
The revised guidelines mandate telecom firms to adopt more balanced board structures, separate the roles of Chairman and CEO, and include directors with proven expertise in ICT and cybersecurity. Regulatory officers within companies are now formally recognised as direct liaisons with the NCC. In addition, telecom firms must carry out structured risk assessments, strengthen their internal audit functions, and file mid-year and annual compliance reports certified by their boards.
Maida revealed that an internal NCC study showed a direct link between strong governance practices and superior performance in areas such as service delivery, financial health, and regulatory compliance. He acknowledged the potential short-term disruptions for operators but stressed that the long-term benefits outweigh initial challenges.
Describing Nigeria’s telecom sector—with over 150 million active subscriptions—as critical national infrastructure, Maida noted that compliance will be phased in according to each operator’s license category. However, he warned that non-compliance will trigger enforcement actions once the grace period lapses.
The initiative was widely endorsed by industry stakeholders. Legal scholar and Senior Advocate of Nigeria, Prof. Fabian Ajogwu, praised the NCC for modernising the framework to address contemporary challenges like AI, cybersecurity, and ESG standards. Titus Osavwe of the Financial Reporting Council also hailed the effort as a significant move to increase accountability and attract investment.
The NCC reaffirmed its commitment to supporting the industry through technical assistance, capacity-building, and ongoing engagement as the new rules take effect.
