The Nigerian Communications Commission (NCC) has unveiled new corporate governance guidelines as part of its regulatory moves to consolidate on the achievements recorded in holistically transforming the telecoms industry and align its operations with global best practice standards.
A key feature of the revised guidelines is that former top officials of the commission were restricted from taking employment or board positions in the telecommunications industry for up to five years after leaving the commission.
Under the updated Corporate Governance Guidelines for the Communications Industry, which was just launched by the commission’s Executive Vice Chairman/CEO, Dr. Aminu Maida, former NCC Chairmen, Executive Vice Chairmen, and Board Commissioners, whether in executive or non-executive roles, are now expected to mandatorily to stay for five years before joining any licensed telecom operator.
Similarly, NCC Directors will be subject to a three-year restriction before they can work for any company regulated by the Commission.
- Advertisement -
Maida explained that the new order was designed to promote transparency, enhance investor confidence, and ensure business stability in the telecom sector given its catalytic roles in the nation’s digital economy drive.
He explained: “Corporate governance is no longer a soft requirement. It is now a strategic imperative. In a sector that is central to Nigeria’s digital future — and exposed to risks like cybersecurity threats, energy challenges, and evolving consumer demands — we must set the highest ethical standards.” Maida stated at the policy launch.
In addition, the guidelines also imposed stricter governance requirements on telecom operators as their Board Chairmen and Vice-Chairmen were prohibited from exercising executive powers or serving as Managing Director/Chief Executive Officer (MD/CEO) just as former Board Chairmen and non-executive directors were barred from taking executive roles within the same company or its affiliates until five years after leaving the board.
According to the guidelines, the number of family members permitted on a licensee’s board is limited to two in the commission’s bid to reduce conflicts of interest in such entities
The Commission stated that the reforms were aimed at improving transparency, accountability, and ethical conduct across the industry while supporting innovation, compliance, and service quality.
Specifically, the new guidelines apply to all communications companies holding individual licences and paying Annual Operating Levies (AOL) in line with the AOL Regulations 2022 but companies’ compliance timelines may vary based on licence category, with phased implementation plans to be communicated in writing.
Maida further clarified that an internal NCC review showed a clear link between strong corporate governance and better performance in service delivery, financial management, and regulatory compliance.
He expatiated: “Companies with solid governance structures consistently outperformed others in customer service, operational efficiency, and adherence to regulations. While there may be short-term adjustment costs, the long-term benefits — including stronger public trust and better services — far outweigh them.”
Industry experts believe that with these measures, the NCC is positioning Nigeria’s telecom industry to be globally competitive, resilient, and trusted in the increasingly changing trends in the global digital landscape.
