According to multiple sources, Ahmad Farroukh, appointed CEO of Nigerian telecom giant Globacom, has resigned after only one month in the role. He was appointed in October, 2024. While Globacom has yet to issue an official statement, industry insiders attribute his exit to significant organizational challenges within the company.
A mid-level manager at Globacom and a senior official at the Nigerian Communications Commission (NCC), speaking to TechCabal anonymously, confirmed Farroukh’s resignation. The manager linked the departure to issues with the company’s centralized decision-making structure, while the NCC official withheld specific details.
Globacom’s founder, Mike Adenuga, is known for maintaining tight control over the company’s operations. This centralized approach, though successful in the past, may have conflicted with Farroukh’s expectations, given his experience at more structured organizations like MTN and Airtel.
Farroukh’s exit comes as Globacom faces intensified regulatory scrutiny. In late 2024, the NCC’s audit revealed over 40 million subscribers were not properly registered with their National Identification Numbers (NIN). This was a violation of government regulations. This led to a substantial loss of market share, reducing Globacom’s hold on the Nigerian mobile market to just 12%.
The company has also been grappling with cybersecurity issues. In 2023, a hack compromised the personal data of millions of subscribers. These challenges likely created an environment where Farroukh found it difficult to perform meaningful changes.
“A CEO leaving in one month is unprecedented in the industry,” said Ayoola Oke, a former adviser to the NCC’s Executive Vice-Chairman. Oke mentioned that there’s the potential for an NCC investigation into the reasons behind Farroukh’s departure.
However, Farroukh’s resignation raises questions about Globacom’s ability to address its internal issues.
