The Nigerian Communications Commission (NCC) has engaged stakeholders on how to mitigate emerging risks in the Information Communications and Telecommunications industry.
Speaking in Abuja at the two-day maiden edition of the NCC’s Telecommunications Industry Risk Management, the Executive Vice Chairman (EVC), of the NCC, Prof. Umar Danbatta said this would help sustain the ICT sector which is the backbone of the Nigerian Economy
The conference was tagged “Nigerian Telecommunications Industry: Managing the Emerging Risks and Embracing Risk Opportunities”
Prof Danbatta, represented by the Director of Policy Competition, Analysis, PCA, Mrs Yetunde Akinleye, said that the Conference is timely and vital for the fast-changing telecoms ecosystem.
While urging players in the sector to be more conscious of the uncertainties and risks the Industry is confronting, he
called for collaboration to end Cybersecurity, online fraud, regulatory burden, double taxation, vandalism of telecommunication infrastructure, Right of Way, RoW Challenges, access to foreign exchange and inter-industry debt risks.
“The focus of this two-day Conference is to bring to the fore the ever-rising uncertainties in the global economy and the regulatory/operational risks in the areas of increased data security regulations, new partnerships and transforming business models, a fast-changing mix of mounting CAPEX burdens, shifting market structures, newly emerging disruption scenarios, regulatory and policy challenges amongst others”
“While risk management has been critical in our regulatory service delivery, we acknowledge that all stakeholders must be concerned about the varied uncertainties that the Industry is confronting.
He added that “The Information and Communication Technologies Sector is inherently filled with several business and technology risks. It is therefore important that regulatory risks be minimised to ensure that services are not disrupted, and consumers obtain the best and latest services that are globally available”, he stated.
Head Corporate Planning, Strategy and Risk Management NCC, Mr. Kelechi Nwankwo said, “Management must examine how best to manage the emerging risk because there is no way all risk can be eliminated completely.
“The Commission will continue to communicate to stakeholders on possible risks and how to mitigate them.”
A lead paper presenter, Eniola Olugboyega, spoke on the topic, ‘X-raying Telecommunication Risks Radar, the Operators Perspective’, where he explained that the impact of improper risk management could damage the company’s reputation, lead to customers dissatisfaction and loss of business opportunities.
PIAK
