21 August 2017

Nigeria: New Code of Corporate Governance Will Produce Visionary CEOs for Telcos - Danbatta

The Executive Vice Chairman of the Nigerian Communications Commission (NCC), Prof Umar Garba Danbatta, has hailed the new Code of Corporate Governance for the telecommunications industry recently activated by the commission, assuring that it would soon usher in a crop of fresh and visionary leaders in the industry.

Fielding questions from newsmen at the side line of a workshop organized in Lagos to sensitize stakeholders on the new code, Prof Danbatta, however, noted that the commission was not being reactive to the recent happenings in the industry with the activation of the fresh regulation.

The NCC, under his leadership, 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 to ensure that the sector remains stable and resilient," he explained.

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 8-point agenda, strategic collaboration and partnership."

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