NCC unveils new corporate governance guidelines to secure telecom sector’s future
The Nigerian Communications Commission (NCC) has unveiled a new set of corporate governance guidelines, marking a significant milestone in its regulatory evolution for the telecommunications industry,
The Executive Vice Chairman and CEO of NCC, Aminu Maida, speaking at the launch event in Lagos on Wednesday, highlighted 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 added.
The guidelines represent a culmination of more than a decade of regulatory evolution, beginning with the first voluntary code introduced in 2014, the incorporation of feedback from wide-ranging public consultations in 2023 and 2024, as well as adaptation of global best practices to Nigeria’s unique business environment.
According to Maida, the new provisions will become mandatory for licensees in phases, beginning with priority license classes.
Key highlights include: Strengthened board structure with emphasis on sector-specific expertise and greater transparency through certified mid-year and annual compliance reports.
Maida, while linking corporate governance to operational resilience and investor confidence, added “Our analysis last year showed that firms with strong governance outperformed others in financial returns, regulatory compliance, and service delivery.”
He encouraged telecom operators to see the guidelines as a “toolkit for sustainable value creation” rather than a regulatory burden.
The EVC NCC also urged them to invest in director education, enhance risk management systems, and tie executive performance to governance-linked outcomes.
Maida pledged the Commission’s continuous support for operators to “engage, enable and enforce—in that order.”
With over 200 million active subscriptions, the launch of the guidelines is seen as coming at critical time when the sector faces challenges of increasing cybersecurity threats, rising consumer expectations, and the demand for faster broadband expansion.
The Nigerian telecom sector is said to remain as one of the country’s most strategic growth engines and as Maida put it: “This is a decisive step towards a resilient, ethical and innovative telecoms industry.”