Business
NCC Releases Code For Telecoms Industry
The Nigerian Communications Commission (NCC), has in Lagos, released the Code of Corporate Governance for the Nigerian Telecommunications Industry.
In the code, which was made available on the NCC’s website yesterday, 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.
“The need to develop a sector specific Corporate Governance Code for the Nigerian Telecommunication Industry is necessary to address the peculiarities of the sector that are not typically dealt with under broadly-aimed codes.
“This is more so in view of the fact that the telecommunications sector, though, dominated by privately-held companies, is of strategic importance to the economy at a macro level.
“It also has considerable impact at the micro level.
“As the telecommunications industry’s regulator, NCC, in keeping with our core values proactively undertook industry-wide consultations with a view to determining the industry’s corporate governance needs,” he said.
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.
“Thus the Nigerian Telecommunications Sector Corporate Governance Working Group (CGWG), with membership drawn from across the Nigerian telecommunications sector.
“It includes, the NCC and Corporate Governance Consultants/Experts that were inaugurated on October 24, 2012 by our Executive Commissioner/Stakeholder Management, Mr Okechukwu Itanyi.
“The CGWG developed this Code of Corporate Governance for the Telecommunications Industry,” he said.
Juwah said that the code was a voluntary code of leading practices aimed at regulating corporate behaviour and practices of companies within 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.
According to him, corporate governance in our emerging economy is driven by the need to develop a system of control which aims at increasing shareholders value and surpassing the expectations of other stakeholders.
He said that corporate governance culture adopted by companies had positive or negative impact on their growth and development.
According to him, it is also a critical deciding factor in the success or failure of the companies.
“The consultative approach adopted in developing this code is unique and offers opportunity for acceptability of the code by the board and management of various telecommunication companies.
“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.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
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