Ahmad Farroukh, appointed as the CEO of Nigerian telecom giant Globacom in October 2024, has resigned after just one month in the role.
Farroukh, a seasoned telecom professional with over two decades of experience, resigned due to what insiders describe as organisational challenges within the company.
While Globacom has yet to issue an official statement on the resignation, sources within the Nigerian Communications Commission (NCC) and Globacom reveal that Farroukh’s decision may be tied to structural and operational difficulties.
A senior official at the NCC, who chose to remain anonymous, confirmed the development.
Farroukh’s departure comes during a challenging period for Globacom. The company has been criticised for its centralised decision-making approach, with founder Mike Adenuga reportedly controlling most of the organisation’s key decisions.
Per reports, it is believed that this leadership style, though important for Globacom’s growth, may have caused difficulties for Ahmad Farroukh, who has previously worked in more structured organisations such as MTN and Airtel.
Adding to the issue are regulatory and operational matters. In late 2024, a sector-wide audit by the NCC revealed that over 40 million Globacom subscribers were improperly registered, a breach of Nigeria’s mandatory National Identification Number (NIN) policy.
This led to a significant drop in its subscriber base, with market share plummeting to 12%. The company has also struggled with cybersecurity challenges, including a 2023 data breach that exposed millions of customers’ personal information.
A former Globacom executive linked Farroukh’s exit to these combined issues. “The combination of regulatory pressure, subscriber losses, and organisational bottlenecks likely made it difficult for him to implement meaningful changes in such a short period,” the source stated.
Ayoola Oke, a former adviser to the NCC, noted that the development is bothersome, especially regarding corporate governance within Globacom. “A CEO stepping down after just one month is unusual. It is necessary for the NCC to review this situation as it relates to governance and operational transparency,” he said.
Globacom needs structural reforms to address its declining market position. Without a clear strategy to resolve its internal and external challenges, the company risks further setbacks in the competitive telecom market.
Farroukh’s resignation has left a leadership void that Globacom must urgently fill to stabilise its operations and regain public and investor confidence.
