Regulator to review corporate governance code for telecoms industry

folarin okunola

June 22, 2016 3:10 PM

According to NCC boss, Prof. Danbatta, this has become necessary since good corporate governance in institutions encourages corporate success and therefore business sustainability.

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Media reports confirm that there are indications that the Information Communication Industry will soon have a new Corporate Governance Code as the Nigeria Communications Commission (NCC) has put forward a review of the existing code with stakeholders in the industry.

Back in 2013, Akintola Williams lecture series with the theme: "Good Corporate Governance in Nigeria- The Telecommunications Sector Example", NCC, was lauded as an epitome of a good regulator in the country through good corporate governance that has been sustained over the years.

This comes after the NCC set up a Corporate Governance Working Group, CGWG, between 2012 and 2013; on corporate governance for the industry, which eventually led to the launching of the Corporate Governance Code for telecommunications service providers in 2013.

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However, roughly three years down the line, the industry regulator is putting forward a review of the business ethics code in the industry, Nigeria CommunicationsWeek reports.

According to NCC boss, Prof. Umar Danbatta, this has become necessary since good corporate governance in institutions encourages corporate success and therefore business sustainability.

“We are not relenting as things are evolving in ensuring that policy that captures mode of operations are reviewed. This review became necessary following the increasing significance of corporate governance beyond the capital markets, where according to him there is enforcement through listing rules and compliance with best practices," Danbatta said.

The NCC boss described it as a voluntary code of leading practices which aims at guiding corporate behaviour and practices of companies within the industry.

folarin okunola

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