The Nigerian Communications Commission (NCC) has unveiled a new set of corporate governance guidelines tailored for the telecommunications industry in line with its regulatory evolution.
Speaking at the launch event in Lagos on Wednesday, the Executive Vice Chairman and CEO of NCC, Dr. Aminu Maida, stated that the 2025 guidelines are not merely a compliance tool, but a strategic framework for long-term sustainability, investment security, and digital trust in Nigeria’s fast-growing telecom ecosystem.
“This launch is not just about compliance. It’s about sustainability of networks of investments of innovation and of customer trust,” Maida stated.
According to him, the guidelines represent a culmination of more than a decade of regulatory evolution, beginning with the first voluntary code introduced in 2014.
He explained that the guidelines incorporate feedback from wide-ranging public consultations in 2023 and 2024, including global best practices to Nigeria’s unique business environment.
Maida added that the new provisions will become mandatory for licensees in phases, beginning with priority license classes.
He listed the key highlights as strengthened board structure with emphasis on sector-specific expertise, greater transparency through certified mid-year and annual compliance reports, stronger internal controls and enterprise risk management and mandated ESG and CSR disclosures with a focus on sustainability and energy efficiency.
“Our analysis last year showed that firms with strong governance outperformed others in financial returns, regulatory compliance, and service delivery,” Maida said, stressing that corporate governance should be linked to operational resilience and investor confidence.
He charged telecom operators to see the guidelines as a “toolkit for sustainable value creation” rather than a regulatory burden and that they should invest in education, enhance risk management systems to ensure governance-linked outcomes.
Maida reaffirmed his commitment to “engage, enable and enforce operators in the industry.
The launch of the guideline, according to local media reports, comes at a critical time when the sector faces increasing cybersecurity threats, rising consumer expectations, and the demand for faster broadband expansion.
With over 200 million active subscriptions, the Nigerian telecom sector remains one of the country’s most strategic growth engines.
“This is a decisive step towards a resilient, ethical and innovative telecoms industry,” Maida added.
GIK/APA