Lagos - The Nigerian Communications Commission (NCC), on Thursday in Lagos released the Code of Corporate Governance for the Nigerian Telecommunications Industry.
The commission’s Executive Vice Chairman, Dr Eugene Juwah, said that the provisions of the code were based on international best practices.
Juwah said that the code sought to foster good corporate governance practices in the Nigerian telecommunications industry.
According to him, it is now common knowledge that enthronement of good corporate governance standards and practices in organisations encourage corporate success and business sustainability.
Juwah said that the commission conducted wide consultations to determine the best approach to adopt in addressing the issue of corporate governance in the sector.
He noted that the code was a voluntary code of leading practices aimed at regulating corporate behaviour and practices of companies within the industry.
He said that it was hoped that the code would promote good corporate governance practices in the industry.
Juwah said it was expected that the code would create a credible industry in which every stakeholder would have confidence, foster the growth and development of the industry, and the larger national economy.
"It is our sincere hope that this code will achieve the desired objectives and bring about positive changes in the corporate governance practices of the telecommunications industry,’’ Juwah said.
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