The Nigerian Communications Commission (NCC) has rolled out new corporate governance regulations that prevent former senior officials from joining telecom operators’ boards or management teams for a set period after leaving the Commission.
Executive Vice Chairman Aminu Maida said the reforms aim to foster stability, bolster investor trust, and improve service quality.
Under the updated guidelines, ex-chairmen, executive vice chairmen, and commissioners — whether executive or non-executive — must wait five years before working with any licensed telecom operator. Directors from NCC departments face a three-year waiting period.
Board governance rules have also been tightened: chairmen and vice-chairmen of telecom companies may not hold executive positions such as MD or CEO, and former non-executive board members must observe a five-year gap before taking executive roles within the same company or its affiliates.
To reduce conflicts of interest, only two family members may serve on the same board. The rules apply to all individual licence holders paying Annual Operating Levies (AOL), with phased compliance depending on licence type.
“Corporate governance is no longer a soft requirement. It is now a strategic imperative,” Maida said, stressing its importance in a sector vulnerable to cybersecurity risks, energy issues, and shifting consumer needs.
The NCC’s internal review found that companies with strong governance consistently outperformed peers in service delivery, financial discipline, and compliance. The Commission believes that while implementation may be challenging initially, the long-term benefits will outweigh short-term disruptions.
