… Plans To Introduce Corporate Officers who will enforce the code of corporate governance
The Nigerian Communications Commission (NCC) has stated plans to introduce a new role of Corporate Officers in telecommunications companies with the aim of strengthening the implementation of the principles outlined in Nigeria’s Code of Corporate Governance within the telecoms industry.
Corporate Officers, according to the Commission will provide effective communication and feedback between the Commission and GSM companies. This will enable the Commission to ensure that industry stakeholders adhere to the principles and provisions of the Code of Corporate Governance.
The Corporate Officers will be industry-specific positions, providing a platform for collaboration and stakeholder engagement. This participatory approach, as described by the NCC, is intended to reinforce compliance with the Code of Corporate Governance, ultimately fostering greater transparency, accountability, and ethical practices within the telecommunications sector.
The corporate officers will create “a room of participatory process with our stakeholders in the application of Nigeria’s Code of Corporate Governance as it applies to the telecommunications industry.”
The NCC says it is confident that the new policy introducing Corporate Officers will further solidify its commitment to transparency and responsibility reporting. By fostering effective collaborations with licensees, the NCC aims to uphold high standards of accountability and ethical practices within the telecommunications sector.
Key areas of focus for transparency and responsibility reporting include the telecoms subscribers’ database and the operational and market share data of licensees. These efforts, according to the NCC, will contribute to increased trust among stakeholders and align the industry with global best practices.
The NCC has emphasized the interdependence of transparency and responsibility, stating that these principles have been instrumental in driving the successes achieved in the Nigerian telecommunications industry. As the commission moves forward with this initiative, it expects that the focus on transparency and responsibility will not only create value for stakeholders but also generate growth in the nation’s GDP.
Already, the NCC said its measures are yielding positive results as “we recorded a drop in tele density with the NIN-SIM linkage in the country. We are now using a more realistic population figure of 216 million people in Nigeria. We are using a more transparent figure.”
The NCC said it also successfully resolved the interconnectivity issue between Globacom and MTN sometimes during the year, and “we continually engage all the stakeholders in the telecoms industry.”
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