NCC unveils corporate governance rules, directs telcos to separate chairman, CEO positions

The Nigerian Communications Commission (NCC) has unveiled a new corporate governance framework for telecommunications operators, aimed at boosting transparency, internal controls, and risk management in the fast-evolving sector.

Speaking at the official launch of the 2025 guidelines on corporate governance in Lagos on Wednesday, Aminu Maida, executive vice-chairman (EVC) of the NCC, said the new rules are designed to improve long-term business sustainability, enhance service quality, and strengthen investor confidence.

“Corporate governance is no longer a soft requirement. It is now a strategic imperative, especially in a sector central to Nigeria’s digital future and vulnerable to cybersecurity threats, energy shocks, climate risks, and rising consumer demands,” Maida said.

He added that operators must now appoint boards that include executive, non-executive, and independent directors with proven expertise in information and communications technology (ICT) and cybersecurity.

The EVC said that the positions of chairman and chief executive officer (CEO) must be separated for greater transparency, while regulatory officers within telecom firms will be formally recognised as key compliance liaisons for the NCC.

“Operators must empower internal audits and submit both mid-year and annual compliance reports, which must be certified by their boards,” he added.

Maida said an internal review conducted by the NCC showed a clear correlation between strong corporate governance and better business performance in the sector.

“Companies with robust governance frameworks consistently outperformed their peers in service delivery, financial management, and regulatory compliance,” the NCC boss said.

He acknowledged that the new rules may initially pose operational challenges for some operators, but said the long-term benefits — such as improved market trust and service delivery — would outweigh any short-term disruption.

’ENFORCEMENT WILL BE FIRM’

With over 150 million active telecom subscriptions, the NCC EVC described the industry as “critical national infrastructure” supporting key pillars of Nigeria’s digital economy, including finance, healthcare, education, and public services.

He said the new rules would be phased in based on operators’ licence categories, but stressed that enforcement would be firm.

“Where there is non-compliance, the commission will not hesitate to apply sanctions after the remediation window closes,” he said.

Maida encouraged operators to see the new rules not as a regulatory burden, but as a roadmap for creating long-term value.