The Nigerian Communications Commission (NCC) has unveiled a new set of corporate governance guidelines aimed at improving regulatory oversight, transparency, and accountability within the telecommunications sector.
The updated framework is designed to enhance internal controls, risk management, and long-term business sustainability, while ultimately driving better service quality for consumers.
Among the key provisions are:
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Separation of the roles of board chairman and chief executive officer.
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Board composition requirements, mandating a balanced mix of executive, non-executive, and independent directors with proven expertise in ICT and cybersecurity.
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Strengthened internal audit functions to ensure operational integrity.
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Mandatory mid-year and annual compliance reports certified by company boards, with penalties for non-compliance.
The NCC noted that operators with strong governance structures consistently achieve better results in service delivery, financial performance, and regulatory compliance.
Recognizing the telecom sector’s vital role in powering Nigeria’s digital economy — including finance, education, healthcare, and government services — the commission said the new rules are intended to promote best practices, increase investor confidence, and ensure the industry’s long-term sustainability.
