Nigeria’s telecom watchdog has given billionaire Mike Adenuga two years to relinquish his dual role as Globacom’s chairman and CEO or face sanctions.
The directive, part of sweeping corporate governance reforms unveiled by the Nigerian Communications Commission (NCC) on August 7, 2025, targets operators who merge board oversight with executive management.
Adenuga, who built Globacom into Nigeria’s third-largest telecom operator, now faces a firm deadline to comply. The NCC’s rules mandate a strict separation of powers—requiring an independent CEO, board diversity, and tech expertise among directors. Globacom is the only major holdout; rivals MTN, Airtel, and 9mobile already split these roles.
The company briefly attempted compliance in 2024 by appointing veteran Ahmad Farroukh as CEO. But his abrupt exit after two months—reportedly over operational disputes—returned Adenuga to both positions. Industry insiders see the NCC’s move as overdue. “Telecoms lagged banking reforms for years,” one executive noted anonymously. “This aligns Nigeria with global standards.”
Failure to comply risks fines, license suspension, or forced management changes. Analysts acknowledge Adenuga’s decisive leadership but warn the dual role stifles accountability. The NCC’s crackdown signals tighter scrutiny for an industry pivotal to Nigeria’s digital ambitions.
