Why Telecoms Industry Risk Management Conference Was Organised – NCC

The recently held Telecoms Industry Risk Management Conference was organised to put Nigeria in vantage positions to face the challenges and tackle risks associated with the emerging technologies and trends in the world’s telecommunications.

The Conference with the theme “Evolution and Future Risk Management in the Telecoms Industry: Harnessing Emerging Technologies and Trends,” was held at the Radisson Blu Hotel in Ikeja Lagos.

According to the Head of Corporate Planning, Strategic and Risk Management (HCPRSM) of Nigerian Communications Commission (NCC), Mr . Kelechi Nwankwo, the Conference came in the wake of the consultations with the Executive Vice Chairman/Chief Executive Officer of NCC, Dr Aminu Maida, had with the Industry and Media executives, where he revealed the plan of the Commission to “review the current operating standards and introducing new standards which are in line with international best practices to facilitate resilience in the communications industry in Nigeria.

According to him, the two-day Conference was “a journey of exploration and discovery in a rapidly evolving landscape of the telecoms industry. It was a platform to analyse, adapt, and effectively manage the risks that accompany innovation and development,” he said.

“The fast-disruptive world of the telecoms industry has witnessed the convergence of diverse technological advancements with the potential of reshaping our future. The possibilities are limitless, from 5G networks, the Internet of Things (IoT), and Artificial Intelligence (AI), to Cloud Computing and beyond. However, with great opportunities, come great risks, and it is our collective responsibility to address these risks and possibly safeguard the industry’s growth and sustainability.

“This conference is a testament to our collective commitment towards recognizing the evolving risks and challenges we face while embracing the immense opportunities emerging technologies and trends bring,” he said.

Nwankwo tasked the participants at the Conference to engage in discussions, gain key insights from industry experts, share experiences, and develop strategies to navigate through the ever-changing landscape in which the industry is operating, proffer solutions to how Nigeria’s telecoms sector can mitigate technological risks and use technological innovations to provide solutions to address environmental, societal, economic (disruption of supply chains for critical goods and resources) and geopolitical (attacks on critical infrastructure) challenges.

While applauding the fact that stakeholders in the Nigerian telecoms industry have forward-thinking mindset people, he noted that the industry has gone through remarkable transformations, and “it is our responsibility to stay informed, prepared, and proactive in managing the potential risks ahead.”