NCC Justifies New Code Of Corporate Governance

Abiodun Focus

 

The executive vice chairman of the Nigerian Communications Commission (NCC), Prof. Umar Danbatta, has said the Code of Corporate Governance for the telecommunications industry recently activated by the commission would usher in a crop of fresh and visionary leaders in the industry.

Danbatta, who spoke on the sidelines of a workshop in Lagos to sensitise stakeholders on the new code,noted that the commission was not being reactive to recent happenings in the industry with the activation of the fresh regulation.

The NCC has introduced the mandatory code of corporate governance for the telecommunications industry, which was hitherto voluntary.

“The corporate governance code had come before the recent happenings in the industry, meaning, we do not react to situations in the sector on ad hoc basis.

However, where we have to come in to stave off undesired developments in the sector, we don’t hesitate to do so. But more than that, we also put proactive steps in place in order to ensure that the sector remains stable and resilient,” he said.

Citing the example of the recent intervention of the commission to save 9Mobile from total collapse, Danbatta, said: “we intervened jointly with the Central Bank of Nigeria (CBN), consistent with an item of our eight-point agenda, strategic collaboration and partnership.

He added that, with the activation of the new code, the NCC was trying to ensure enduring corporate and instructional structures were in place, with a view to sustaining stability in telecoms sector.

“We are in the process of trying to ensure we have transformational leadership in the telecoms sector. Leadership that will introduce new ideas, new ways of work, with it-cannot-be-business-as-usual mentality, leadership that has vision and a compelling narrative about the future for all stakeholders in the industry. Unless and until we do this, we will not be able to sustain the contribution of the sector to GDP, which currently stands at about 9.8 per cent.

“We are mindful of what we have to do to sustain this resilience as indicated by all the figures released by the National Bureau of Statistics, which confirm the resilience and stability of the sector. That’s why we are taking these measures that any regulator would proactively take to protect the industry,” he said.

 

Leave a Reply

Your email address will not be published. Required fields are marked *