The Nigerian Communications Commission (NCC) has launched a new corporate governance framework to enhance transparency, internal controls, and risk management for telecommunication companies operating in Nigeria.
The Executive Vice-Chairman of the NCC, Dr. Aminu Maida, stated that the new guidelines are a strategic imperative for a sector central to Nigeria’s digital future, which faces challenges from cybersecurity threats, climate risks, energy shocks, and rising consumer expectations.
The key provisions of the new framework will include balanced boardstructures. Some telcos will need to have balanced boards with executive, non-executive, and independent directors to deliver reliable and quality services.
According to him, research conducted last year the commission shows that “firms with stronger governance consistently demonstrated superior service performance, higher compliance with NCC regulations, and more resilient financial results. The evidence affirms an important truth: good governance is not merely a regulatory requirement, it is a strategic imperative for business success and long-term sustainability.”
These board members are expected to have expertise in Information and Communication Technology (ICT) and cybersecurity.
He also directed operators to conduct structured risk assessments and submit mid-year and annual compliance reports certified by their boards, emphasizing on the need for internal audits and risk control.
Regulatory officers within the telcos’ operations will be expected to monitor compliance amongst members. Non-compliance will lead to sanctions after a remediation period.
The new guidelines might also bar any top management staff from joining the board of any telecom firms until five years after leaving NCC has elapsed
Dr. Maida encouraged operators to view the new rules not as a regulatory burden but as a tool for creating long-term value for investors, consumers, and the national economy.
He said the provisions in the guidelines are mandatory for individual licensees, implemented in phases by licence class, and designed to embed cultures of accountability, adaptability, and sustainable value creation.
Though implementation of the guidelines will begin next year, he said NCC would continue to engage with stakeholders in the industry on how the implementation could be without problems.
