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The Nigerian Communications Commission (NCC) has given Globacom 24 months to appoint a chief executive officer separate from its board chairman—or face regulatory penalties. The directive, part of new Corporate Governance Guidelines released on August 7, 2025, aims to strengthen accountability, transparency, and operational independence across Nigeria’s telecom industry.
The rules bring telecoms in line with governance standards already common in the banking sector. While MTN Nigeria, Airtel Africa, and T2 (formerly 9mobile) already maintain separate chairman and CEO roles, Globacom remains the only major operator where the positions are combined. Founder and chairman Mike Adenuga has also served as CEO since the company’s inception.
Globacom did not respond to requests for comment.
The NCC’s reforms prohibit any chairman from exercising executive powers or acting as managing director. Boards must have at least five members, with non-executive directors outnumbering executive directors, and one-third of the board must be independent. At least two non-executive directors—one of them independent—must have expertise in ICT or cybersecurity.
In 2024, Globacom appeared to move toward compliance by appointing telecom veteran Ahmad Farroukh as CEO. However, his tenure lasted only two months, reportedly due to disagreements over operational control, after which Adenuga resumed his dual role—now in breach of the NCC’s framework.
Under the new guidelines, non-compliance can trigger fines, suspension, or even licence revocation. The NCC can also order management changes within a set timeframe in serious cases.
Governance at Globacom has long revolved around a founder-led model, enabling swift decision-making but limiting structural independence. Rivals have adopted more conventional governance systems that separate strategic oversight from day-to-day management. The short-lived appointment of Farroukh illustrated the challenge of introducing executive autonomy into Globacom’s entrenched leadership structure.
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