NCC Introduces New Product

The Nigerian Communica
tions Commission (NCC) has launched a sector  specific code of corporate Governance, in its pursuit to strengthen the telecommunication industry.
The Executive vice chairman of the commission, Dr Eugene Juwah, who launched the programme recently, said the adoption of the code was important, due to the strategic and high level significance  the telecommunication industry occupies.
He said such opportunity,  stretches to both macro and micro levels of the country’s economy, as well as the demand for growing relevance of corporate  governance beyond capital  markets.
Juwah, told The Tide source that the system would allow a kind of compliance with best practices enforced through  rules, and sector specific  codes, adding that it has become increasingly more beneficial in those sectors.
According to him, the aim of the NCC, was to ensure that no existing operator would go under as a result of mismanagement and  then drag the industry backward.
“The regulators efforts in this regard are geared towards saving these companies from possible collapse” he said.
He explained that the greatest gains of the code are for the  telecommunications companies themselves, saying that through its observance will their businesses be sustained.
The NCC’s hench man, maintained that good corporate governance, helps to regulates corporate  scandals, fraud, and other related crimes of the organisation.
Furthermore,  he noted that the code could also be  seen as good business, which enhances the reputation of the telecommunication industry, thereby, making it more attractive to customers, investors and others.
He insisted that the code of good governance was in the best interest of the telecommunication industry due to the varieties of services   that it would provide for them.
The Tide gathered that the system would guarantee  subscribers hope, where the collapse of one telecom company would not affect communication business in the country.
The code, as our reporter was told, is sub-named “game changer” due to its hybrid nature.