By Our Correspondennt
In a newly unveiled rules of corporate governance, the Nigerian Communications Commission (NCC) has tightened up guidelines for telecommunications (telcos) operators in order to ensure transparency, internal controls, and risk management across the industry.
In his keynote address at the inauguration of the 2025 Guidelines on Corporate Governance in Lagos on Wednesday, the NCC EVC, Dr. Aminu Maida said that the new framework is designed to ensure long-term sustainability for telcos’ businesses, networks, as well as instill investor confidence.
Dr. Maida maintained that the new rules mandate telecommunications licensees implement balanced board structures, enhance transparency, and establish more stringent internal control systems.
He stressed that board members are expected to include executive, non-executive, and independent directors with demonstrated expertise in information and communication technology (ICT) and cybersecurity.
He further noted that NCC now formally recognises regulatory officers within licensees’ operations as key contacts for compliance monitoring.
“Corporate governance is no longer a soft requirement. It is now strategically imperative, especially in a sector that is central to Nigeria’s digital future and exposed to cybersecurity threats, climate risks, energy shocks, and rising consumer expectations.
“A major highlight of the new framework is the emphasis on internal audits and risk control,” Dr. Maida reiterated.
According to the unveiled new guidelines, operators are expected to conduct structured risk assessments and empower internal audit functions to ensure oversight.
Also, the guidelines mandate submission of mid-year and annual compliance reports, which must be certified by the board of directors.
“Our goal is simple, to ensure that telcos’ boards and management are properly structured to provide reliable services, protect infrastructure, and respond to the dynamic challenges of the industry,” the EVC said.
He emphasized that companies with robust governance frameworks consistently outperformed others in areas of service delivery, financial management, and regulatory compliance.
Further he pointed out that the stiffer measures may initially disrupt some operators, but that the long-term benefits would outweigh any temporary challenges.
“With over 200 million active subscriptions, the telecoms sector is now considered essential to Nigeria’s economy, supporting digital infrastructure across finance, education, healthcare, and government services,” the NCC boss said.
He noted that the guidelines will be rolled out in phases, depending on the category of licence held, stressing that enforcement would be rigorous.
“Operators must view this not as a regulatory burden but as a blueprint for long-term value creation. he added.
