The Nigerian Communications Commission has given Globacom 24 months to appoint a chief executive officer separate from its board chairman or risk regulatory sanctions.

The directive is part of new corporate governance rules, announced August 7, aimed at boosting accountability, transparency, and operational independence in the telecom sector.

Under the guidelines, licensed operators must have distinct roles for chairman and CEO — a standard already met by MTN Nigeria, Airtel, and 9mobile. Globacom, founded and chaired by Mike Adenuga, remains the only major operator where the same person holds both positions.

The rules require boards to have at least five members, including a non-executive chairman, a managing director/CEO, executive directors, non-executive directors, and independent non-executive directors.

Non-executive directors must outnumber executives, and at least one-third of the board must be independent. The chairman must be a non-executive and cannot assume executive powers or act as CEO.

The NCC can impose fines, suspend or revoke licences, or order management changes for non-compliance.

In 2024, Globacom briefly appointed telecom veteran Ahmad Farroukh as CEO, but he resigned after two months, reportedly over disagreements about operational control. Adenuga then resumed the dual role, which the NCC’s framework now prohibits.

Industry executives say the reforms bring telecom governance in line with global standards, similar to changes made in Nigeria’s banking sector years earlier.