Lagos: The Nigerian Communications Commission (NCC) has introduced a stricter corporate governance framework for telecom operators, aimed at enhancing transparency, internal controls, and risk management across the industry. The Executive Vice-Chairman of the Commission, Dr. Aminu Maida, made this known during the inauguration of the 2025 Guidelines on Corporate Governance on Wednesday.
According to News Agency of Nigeria, the new framework is designed to ensure long-term sustainability for telecom businesses and networks, as well as instill investor confidence. Dr. Maida emphasized that corporate governance 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.
He explained that under the new rules, telecom licensees would be required to implement balanced board structures, improve transparency, and establish tighter internal control systems. The NCC has mandated that boards include executive, non-executive, and independent directors with expertise in Information and Communication Technology (ICT) and cybersecurity. Regulatory officers within licensees’ operations are now formally recognized as key contacts for compliance monitoring.
A significant aspect of the new framework is the emphasis on internal audits and risk control. Operators are expected to conduct structured risk assessments and empower internal audit functions to ensure oversight. The guidelines also require the submission of mid-year and annual compliance reports, certified by the board of directors. The goal is to ensure that telecom boards are structured to provide reliable services, protect infrastructure, and respond to dynamic industry challenges.
The commission’s internal review highlights a strong link between robust governance and superior performance in the telecom sector. Companies with strong governance frameworks tend to outperform others in service delivery, financial management, and regulatory compliance. While acknowledging potential initial disruptions from tighter regulations, the NCC believes that long-term benefits will outweigh temporary challenges.
Maida emphasized the importance of stakeholder engagement, capacity-building, and technical support, stating that accountability would be strictly enforced. With over 200 million active subscriptions, the telecoms sector is crucial to Nigeria’s economy, supporting digital infrastructure in various sectors. The new governance framework aims to keep pace with the sector’s scale and complexity, with guidelines rolled out in phases depending on license categories.
Operators are encouraged to view the framework not as a regulatory burden but as a blueprint for long-term value creation. Where non-compliance occurs, the commission will apply sanctions after remediation windows close. Prof. Fabian Ajogwu, Senior Advocate of Nigeria, commended the NCC for updating the guidelines to reflect current realities, including Artificial Intelligence, Cybersecurity, and ESG priorities. Titus Osawe, Coordinating Director, Financial Reporting Council of Nigeria, also praised the initiative as a key step towards strengthening good governance in a vital economic sector.
