NCC Ultimatum: Globacom Must Appoint New CEO or Face Sanctions
The Nigerian Communications Commission (NCC) has issued a significant directive to telecommunications operator Globacom: appoint a distinct Chief Executive Officer within 24 months, separate from its current Chairman. Failure to comply with this mandate will lead to severe regulatory sanctions, underscoring the NCC’s commitment to strengthening corporate governance across the country’s vital telecom industry.
Regulatory Showdown: Why Globacom’s CEO Role Must Change
These sweeping new corporate governance rules, officially unveiled on August 7, 2025, are designed to enhance accountability, foster greater transparency, and ensure operational independence within Nigeria’s burgeoning telecom sector. The core of these guidelines mandates a clear separation between the roles of the Board Chairman and the Chief Executive Officer. This move mirrors a transformative initiative undertaken by Nigeria’s banking sector many years ago, which successfully aligned financial institutions with global best practices in corporate governance. As one anonymous telecom executive noted, “It is similar to what the banking sector in Nigeria did many years ago, ensuring the banks adhere strictly to global standards when it comes to corporate governance. The telecom industry took too long to arrive here.” While major players like MTN Nigeria, Airtel, and T2 (formerly 9mobile) have already implemented this critical separation, Globacom remains the sole major operator where its founder and chairman, Mike Adenuga, has concurrently served as CEO since the company’s inception. This long-standing structure is now directly at odds with the NCC’s updated framework, placing the company in a unique position among its peers.
The 24-month deadline presents a critical juncture for Globacom, compelling a fundamental shift in its leadership structure to align with new industry standards. This regulatory push highlights the NCC’s firm resolve to enforce robust corporate governance, ensuring that all major telecom players operate with the highest levels of transparency and independence, ultimately benefiting consumers and strengthening the overall integrity of Nigeria’s telecommunications landscape.
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