TLDR
- The Nigerian Communications Commission (NCC) has given Globacom 24 months to appoint a chief executive officer (CEO) distinct from the board chairman or face sanctions
- The move aims to strengthen accountability, transparency, and operational independence in Nigeria’s telecom industry
- Under the new framework, telecom boards must have at least five members, with a non-executive chairman, a separate MD/CEO, and a majority of non-executive directors
The Nigerian Communications Commission (NCC) has given Globacom 24 months to appoint a chief executive officer (CEO) distinct from the board chairman or face sanctions, as part of sweeping corporate governance rules released on August 7, 2025.
The move aims to strengthen accountability, transparency, and operational independence in Nigeria’s telecom industry–aligning it with standards long adopted in the banking sector.
Under the new framework, telecom boards must have at least five members, with a non-executive chairman, a separate MD/CEO, and a majority of non-executive directors–at least one-third of whom must be independent. Two non-executive directors, including one independent director, must also possess ICT or cybersecurity expertise. Crucially, the chairman cannot hold or exercise the role of CEO.
Globacom is the only one of Nigeria’s four major operators–alongside MTN, Airtel, and 9mobile–to combine the chairman and CEO positions. Founder Mike Adenuga has held both roles since inception, with a brief exception in 2024 when Ahmad Farroukh was appointed CEO, only to resign after two months amid reported clashes over decision-making authority.
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Key Takeaways
The NCC can impose fines, suspend or revoke operating licences, or even order management changes for non-compliance. Analysts say the rules could reshape Globacom’s governance culture, reducing founder dominance while improving institutional checks and balances. While Adenuga’s hands-on leadership has been key to Glo’s rapid growth, governance experts note that the absence of role separation limits operational independence and could slow reforms. The NCC’s timeline leaves room for an orderly transition, but also signals that entrenched founder-led models will face increasing regulatory pressure. Globacom now has two years to align with global governance norms or risk regulatory action that could disrupt its operations and market position.
