In a move aimed at bolstering transparency and corporate governance, the Nigerian Communications Commission NCC has introduced new rules that bar its top officials from taking up roles in telecom companies for several years after leaving the Commission.
Under the new Guidelines on Corporate Governance for the Communications Industry , individuals who have served as Chairman, Executive Vice Chairman, or Board Commissioners are now subject to a five-year cooling-off period. This means they cannot hold any position in a licensed telecom company for five years after their tenure at the NCC ends. The same guidelines also impose a three-year cooling-off period for departmental directors before they can be appointed to a position with any licensee under the NCCs regulation.
The new rules, according to the NCCs Executive Vice Chairman, Dr. Aminu Maida, are intended to promote business stability, strengthen investor confidence, and improve service quality. The Commission believes that strong governance structures are linked to better performance in service delivery and regulatory compliance. The guidelines, which apply to all communications companies with individual licenses, also include other provisions such as prohibiting Board Chairmen and Vice-Chairmen from exercising executive powers. While the transition may present short-term challenges, the NCC emphasized that the long-term benefits, including increased public trust, will outweigh any initial difficulties.
