By Oladapo Okeowo
The Nigerian Communications Commission (NCC) has begun the enforcement of corporate governance in telecommunication firms.
This is in a bid to safeguard investments and other consumers’interests in the telecommunications companies.
The move was disclosed by the agency’s executive secretary, Prof Umar Danbatta.
Speaking at the 80th edition of the Telecom Consumer Parliament, Danbatta, represented by Sunday Dare, Executive Commissioner, Stakeholders Management, said the practice is what protected consumers’interests in Etisalat even though it went through a bit of upheaval; nor was there any job loss.
“The commission has taken steps to ensure that the telecommunication sector remains vibrant and has carried out its regulatory functions to ensure that the companies operating in the industry are healthy.
“Where necessary, the NCC has made interventions to prevent disruptions to the consumer experience. In addition, to ensure that licensees in the industry continue to operate as viable businesses, we have commenced enforcement of the NCC’s Code of Corporate Governance,” he said.
The NCC enforcement would be based on the guidelines companies are expected to adhere to as laid down by the Code of Corporate Governance. This includes board composition, qualifications, remuneration, and other concerns that can significantly affect the continued existence of a going concern.