By Jessica Dogo, Abuja.
The Nigerian Communications Commission (NCC) has engaged telecommunication stakeholders on how to mitigate cybersecurity, online fraud and other cyber-risks.
To that end, the commission organized a two-day conference on telecommunications risks management on Monday in Abuja, which has “Nigerian Telecommunication Industry: Managing the Emerging Risks and Embracing Risk opportunities” as its theme.
The Executive Vice-Chairman of NCC, Prof. Umar Danbatta, in his address, rallied around major stakeholders on ways of addressing emerging risks in the telecommunications industry.
Danbatta, represented by the Director of Policy Competition Analysis, Mrs Yetunde Akinleye, said that the conference was timely and vital because of the fast-changing telecoms ecosystem.
He urged players in the sector to be more conscious of the uncertainties and risks confronting the industry.
Danbatta called for collaboration in tackling cybersecurity, online fraud, regulatory burden, double taxation, vandalism of telecommunication infrastructure, Right of Way 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, among others.
“While risks 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 (ICT) 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 said.
Mr Eniola Olugboyega, the lead paper presenter, spoke on “X-raying Telecommunication Risks Radar, the Operators’ Perspective”.
Olugboyega said that the impact of improper risks management could damage a company’s reputation, lead to customers’ dissatisfaction and loss of business opportunities.