The Nigerian Communications Commission (NCC) has introduced a new set of corporate governance guidelines aimed at enhancing transparency, sustainability, and investor confidence in Nigeria’s rapidly expanding telecommunications sector.
Speaking at the launch event held in Lagos on Wednesday, the Executive Vice Chairman and CEO of the NCC, Dr. Aminu Maida, described the 2025 guidelines as more than a compliance tool.
According to him, they are a strategic framework designed to support long-term sustainability, secure investments, and build digital trust across the industry.
“This launch is not just about compliance,” Maida said. “It’s about the sustainability of networks, investments, innovation, and customer trust.”
The guidelines mark a significant milestone in the NCC’s regulatory journey, which began with the introduction of a voluntary code in 2014.
Maida noted that the new framework was developed following extensive public consultations in 2023 and 2024 and incorporates global best practices adapted to Nigeria’s unique business environment.
Implementation of the provisions will be phased in, beginning with priority license categories.
Key features of the guidelines include a stronger board structure with a focus on telecom-specific expertise, enhanced transparency through certified mid-year and annual compliance reporting, robust internal controls and enterprise risk management systems, and mandatory disclosures on Environmental, Social, and Governance (ESG) practices and Corporate Social Responsibility (CSR), with an emphasis on sustainability and energy efficiency
Maida highlighted findings from a 2024 analysis, which showed that telecom firms with sound governance practices outperformed their peers in financial performance, regulatory compliance, and service delivery.
He urged operators to view the new guidelines not as a regulatory burden, but as a practical “toolkit for sustainable value creation.”
He also encouraged investment in staff education and the strengthening of risk management frameworks to drive governance-driven results.
“I remain committed to engaging, enabling, and, when necessary, enforcing the rules to ensure industry-wide adherence,” he stated.
The unveiling of the new framework comes at a pivotal time for the telecom sector, which is grappling with rising cybersecurity threats, growing consumer expectations, and urgent demands for broader broadband access.
With over 200 million active subscriptions, the Nigerian telecommunications industry continues to be one of the country’s most vital growth sectors.
“This is a decisive step towards building a resilient, ethical, and innovative telecoms industry,” Maida added.
(APA News)
