The Nigerian Communications Commission (NCC) has introduced a new set of corporate governance guidelines specifically designed for the telecommunications sector, reflecting its regulatory advancements.
During the launch event held in Lagos, the Executive Vice Chairman and CEO of NCC, Dr Aminu Maida, emphasised that the 2025 guidelines are not merely tools for compliance but a comprehensive framework aimed at promoting long-term sustainability, investment protection, and digital trust within Nigeria’s rapidly expanding telecom industry.
“This initiative transcends compliance; it aims to ensure the sustainability of our investment networks, foster innovation, and build customer trust,” Maida remarked.
He noted that the guidelines culminate over a decade of regulatory progression, starting with the first voluntary code introduced in 2014.
Maida highlighted that these new guidelines are grounded in extensive public consultations conducted in 2023 and 2024, merging global best practices with the realities of Nigeria’s unique business landscape.
Licensees will be required to implement these provisions phased in, beginning with priority license categories.
Key highlights of the guidelines include enhanced board structures focusing on sector-specific expertise, increased transparency through mandated mid-year and annual compliance reports, improved internal controls and enterprise risk management, and required disclosures of environmental, social, and governance (ESG) factors as well as corporate social responsibility (CSR) initiatives with an emphasis on sustainability and energy efficiency.
“Our analysis from last year revealed that companies with strong governance outperformed their peers in terms of financial returns, regulatory adherence, and service provision,” Maida remarked, underscoring the importance of linking corporate governance to operational resilience and investor confidence.
He encourages telecom operators to view these guidelines as a “toolkit for sustainable value creation” rather than a bureaucratic imposition. He urged them to invest in education and enhance risk management systems to achieve governance-driven success.
Maida reiterated his dedication to “engage, enable, and enforce” guidelines for operators within the industry.
According to local media, the launch of these guidelines comes at a crucial juncture when the telecommunications sector is contending with escalating cybersecurity threats, growing consumer demands, and the pressing need for rapid broadband expansion.
With over 200 million active subscriptions, Nigeria’s telecom sector remains vital to the nation’s economic growth.
“This initiative represents a significant step towards fostering a resilient, ethical, and innovative telecommunications industry,” Maida concluded.
