The Nigerian Communications Commission (NCC) has introduced a stricter corporate governance framework.

The framework is expected to also investigate internal controls and risk management across the telecommunications industry.

This was disclosed by the Executive Vice Chairman of the Commission, Dr Aminu Maida, in Lagos yesterday at the official launch of the 2025 Guidelines on Corporate Governance in the telecom sector.

Maida said the new framework was designed to ensure long-term sustainability for telecom businesses, networks, and investor confidence.

He said, “Corporate governance is no longer a soft requirement. It is now strategically imperative, especially in a sector that is central to Nigeria’s digital future and exposed to cybersecurity threats, climate risks, energy shocks and rising consumer expectations.”

The NCC EVC explained that under the new rules, telecom licensees would be required to implement balanced board structures, improve transparency, and establish tighter internal control systems.

He noted that board members were expected to include executive, non-executive, and independent directors, with demonstrated expertise in ICT and cybersecurity.

In his goodwill message, Prof Fabian Ajogwu (SAN), commended the NCC for updating the guidelines to reflect current realities such as artificial intelligence, cybersecurity, and Environmental, Social and Governance (ESG) priorities.

Ajogwu, who led the committee that produced the first Code of Corporate Governance for the telecoms sector in 2014, described the revised guidelines as timely and critical.

Coordinating Director, Financial Reporting Council of Nigeria (FRCN), Titus Osawe, also lauded the initiative, describing it as a key step towards strengthening good governance in a vital sector of the economy.