Key Highlights
- The Nigerian Communications Commission (NCC) and the Society for Corporate Governance Nigeria (SCGN) are partnering to promote best practices in corporate governance and business ethics in the telecom industry.
- The SCGN has been instrumental in the development of the Telecommunications Industry Code of Corporate Governance issued by the NCC in 2014, which has served as a pioneer code for enhancing governance in the Nigerian communications industry.
- The collaboration between NCC and SCGN will focus on capacity building, research on governance and sustainability, advocacy, and awareness of corporate governance principles to bring about stability and strengthen the NCC’s position as a promoter of good corporate governance in the sector.
The Nigerian Communications Commission (NCC) and the Society for Corporate Governance Nigeria (SCGN) have announced their intention to strengthen their partnership to promote best practices in corporate governance and business ethics within the nation’s telecom industry.
At a meeting held recently in Abuja, the President of the SCGN, Mr. Mohammad K Ahmad OON, who was represented by a director/fellow of the institute, Mr. Tijjani Borodo stated that SCGN in keeping with its mandate of entrenching and promoting corporate governance best practices collaborate with institutions that align with its vision and objectives. Hence the aim of the meeting with the Nigerian Communications Commission, expressing the intention of further collaboration to promote good corporate governance and foster best practices in the communications sector.
He mentioned that the collaboration through initiatives like capacity building, continuous research on governance and sustainability, advocacy, and awareness of the principles of the corporate governance guideline would bring about stability in the sector, strengthen the commission’s position as a promoter of good corporate governance and setting an example to other regulators as a champion of excellence and progress.
In responding, the Executive Vice Chairman/CEO of the NCC, Prof Umar Garba Danbatta, who was ably represented by the Executive Commissioner for Stakeholder Management, Mr. Adeleke Adewolu welcomed the SCGN team led by Alhaji Borodo, and emphasized the fruitful relationship that the NCC and the SCGN have had over the years. “The SCGN was instrumental to the development of the Telecommunications Industry Code of Corporate Governance issued by the NCC in 2014. Without doubt, that instrument is a pioneer Code which was carefully designed to enhance governance in the Nigerian communications industry, and which led to the development of similar instruments by other sectors” he stated.
Mr. Adewolu highlighted the importance of the best corporate governance and ethical standards for the NCC’s licensees and acknowledged the critical role of the SCGN in advocating for sound governance and ethical business conduct. He also expressed the NCC’s commitment to strengthening its relationship with stakeholders like the SCGN.
Mr. Ibrahim Dikko, a director and fellow of SCGN also reiterated the existing relationship between both organizations as he mentioned that the founder of SCGN, Prof Fabian Ajogwu SAN was the chairman of the committee that developed the 2014 NCC corporate governance code, where he was a member of the committee as a stakeholder in the industry. Our industry was literally the pioneer industry code before the FRCN national code and we should strive to remain relevant in the subject of corporate governance, hence, collaboration with SCGN is very important. He said.
The CEO of SCGN, Mrs. Chioma Mordi in her statement highlighted that SCGN has a membership base with a significant representation from the telecommunication sector, she said that membership of the SCGN is growing, and the society ensures continuous dissemination of corporate governance happening and trends both locally and globally to it members. We try to keep our members abreast of corporate trends through various channels to ensure that there are updates on regulatory changes and trends. She, therefore, went ahead to request for the NCC to join as institutional members as well as recommending individual Membership for its senior management staff.
Mr. Borodo expressed the society’s appreciation to NCC for honoring the request for the visit and congratulated the NCC under the leadership of Prof Danbatta on its commitment to the development of the telecommunication industry through different policy initiatives.
The commission secretary, Mr. G.T. Mohammed also thanked the delegates of SCGN for extending the hands of partnership and emphasized the commission’s commitment to ensuring a sustainable industry and economy at large through the activities of the NCC.
