The Nigerian Communications Commission (NCC) has engaged telecommunication stakeholders on how to mitigate the threat of cybersecurity, online fraud and other risk management.
It was learnt this during a two-day maiden edition of the NCC’s telecommunications industry risk management conference in Abuja on Monday.
The Conference, “Nigerian Telecommunication Industry: Managing the Emerging Risks and Embracing Risk Ppportunities’, witnessed a convergence of significant stakeholders.
In his remarks at the event, the Executive Vice Chairman, EVC, NCC, Prof Umar Danbatta, rallied around major stakeholders on ways to address emerging risks within the industry.
Prof Danbatta, represented by the Director of Policy Competition, Analysis, PCA, Mrs Yetunde Akinleye, revealed that the conference is timely and vital for the fast-changing telecoms ecosystem.
Danbatta urged players in the sector to be more conscious of the uncertainties and risks the industry is confronting.
He called for collaboration in ending [threat to] 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. 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.
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.
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