New code of conduct for telcoms operators
LAGOS – THE Nigeria Communications Commission (NCC) has officially unveiled the corporate governance code for telecommunications operators in the country.
At the official unveiling ceremony of the code in Lagos, NCC Executive Vice Chairman of NCC, Eugene Juwah, said the code would help protect the over $25billion assets in the telecoms sector.
Juwah explained that the corporate governance principles of accountability, responsibility, transparency, integrity and ethical conduct, among others, were important for all types of companies operating in the telecommunications industry.
He said that the absence of a common code binding on all telecommunications operators was hindering the growth of the sector.
The NCC executive noted that the code would put something new in the sector and would contribute to the nation’s rebased gross domestic product.
“The combined factors of the strategic importance of telecommunications and the unprecedented growth of the sector (over 130 million mobile subscribers), with extensive reach across all social and demographic groups in the Nigerian economy, makes it imperative that operators in this
critical sector must uphold a code of corporate governance, which is specific to their industry,” Juwah stated.
Juwah further pointed out that the telecommunications sector was of strategic and high impact significance to the economy at a macro level, and had considerable reach at the micro level.
This, he noted was made up of a wide range of operators with diversity in size, scope of operations, asymmetry qualifications, legal and regulatory requirements, capital market activities as well as local and cross-border relationships.
– CAJ News
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