Nigeria’s telecom regulator has given Globacom 24 months to appoint a chief executive officer separate from its chairman, a move aimed at overhauling the company’s governance and aligning it with global standards.
The Nigerian Communications Commission (NCC) announced the directive on August 7, 2025, as part of new corporate governance rules designed to boost transparency, accountability, and operational independence across telecom operators.
The reform brings telecom governance in line with similar changes made in the banking sector years ago. “This should have happened long ago in telecoms,” said one industry executive who spoke anonymously.
Among Nigeria’s four major operators, MTN Nigeria, Airtel, and 9mobile (now T2) already separate the two roles. Globacom, founded by billionaire Mike Adenuga, remains the only exception, with Adenuga serving as both chairman and CEO since inception.
Globacom briefly appeared to comply in 2024 when it appointed veteran telecom executive Ahmad Farroukh as CEO, but he resigned after just two months amid reported disagreements over operational control. Adenuga reassumed the dual role, putting the company at odds with the NCC’s new framework.
Under the guidelines, a telecom board must have at least five members, including a non-executive chairman, a managing director/CEO, executive and non-executive directors, plus independent members. Non-executive directors must outnumber executives, and one-third of the board must be independent. The chairman must be a non-executive and cannot hold CEO powers.
The NCC’s enforcement powers include fines, licence suspension, or even revocation for serious breaches. It can also order management changes within a set timeframe.
While Adenuga’s hands-on approach has helped Globacom grow into a major player, critics say the concentration of power has slowed corporate reforms. The next two years will determine whether the company adapts or risks a regulatory showdown.
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