NCC Orders Globacom to Appoint CEO Separate from Chairman Within 24 Months or Face Sanctions

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The Nigerian Communications Commission (NCC) has given Globacom 24 months to appoint a chief executive officer (CEO) separate from its chairman or risk stiff regulatory sanctions, including fines, licence suspension, or forced management changes.

The directive, part of sweeping corporate governance reforms unveiled on August 7, 2025, seeks to strengthen accountability, transparency, and independence across Nigeria’s $75 billion telecom sector.

Globacom, founded by billionaire businessman Mike Adenuga, is the only major operator in Nigeria where the chairman also serves as CEO. Rival operators MTN Nigeria, Airtel Africa, and 9mobile (T2) already comply with the separation of roles.

While Adenuga has long been credited for transforming Globacom into a formidable player, critics argue that the concentration of power in one office has slowed the company’s governance reforms. In 2024, Globacom briefly attempted to address this by appointing telecom veteran Ahmad Farroukh as CEO, but his sudden resignation after just two months—reportedly due to clashes over operational control—restored Adenuga’s dual role.

The NCC’s Corporate Governance Guidelines now make clear that such an arrangement is no longer acceptable. Boards must include a non-executive chairman, a CEO, executive and non-executive directors, and at least one-third independent directors. The chairman, the rules stress, must never exercise executive powers.

Industry observers say the reforms mirror Nigeria’s banking sector overhaul years ago, when strict governance standards forced banks to separate oversight from management. “The telecom industry took too long to arrive here,” one senior executive commented.

For Globacom, the ultimatum represents a turning point: adapt to a modern governance framework or risk sanctions that could destabilise its market standing in Nigeria’s highly competitive telecom industry.