NCC Launches Corporate Governance Guidelines in Telecoms Sector for Sustainability

Emma Okonji 

The Nigerian Communications Commission (NCC), has launched the guidelines on corporate governance for the telecommunications industry.

The 24-Page Document, which is segmented into 12 parts, was formally launched by the Executive Vice Chairman and CEO of NCC, Dr. Aminu Maida, 13 years after it was initiated by the NCC. The document is designed to enhance business sustainability in the telecoms sector.

In his keynote address, Maida said the document remained far from being a regulatory instrument, but a document that is more than compliance, designed for the sustainability of networks and businesses; sustainability of investment and innovation; and sustainability of customer trust and national development.   

According to him, the process started 13 years ago, but in 2014, NCC issued the first Code of Corporate Governance for the telecoms sector, initially on a  voluntary basis to encourage ethical, transparent practices.

He however said in recognising the need for stronger enforcement, NCC engaged stakeholders in 2016 and transitioned to a mandatory regime aligned with CAMA and the Nigerian Communications Act.

“Building on extensive public consultation, in 2023 through a public inquiry and again in 2024 via published drafts, we now present sector-tailored guidelines that marry global best practice with Nigeria’s operating environment.  This is timely. Nigeria’s telecoms sector has grown from fewer than 500,000 lines at liberalisation to well over 170 million subscriptions, enabling commerce, finance, public services, education, and security,” Maida further said.

In his welcome address, NCC’s Secretary, Gwa Mohammed, said NCC’s role surpassed being a mere regulator of industry players, as it also fosters an enabling environment that balances commercial viability with public interest. 

In his goodwill message, the Coordinating Director, Financial Reporting Council of Nigeria (FRCN), Mr. Titus Osawe, who represented the Executive Secretary of FRCN, called for a successful implementation of the guidelines.