The Executive Vice Chairman/Chief Executive Officer, CEO, of the Nigerian Communications Commission, NCC, Aminu Maida, has called for effective risk management in the telecommunication industry.
According to the industry is currently at the crossroads of tradition and transformation.
He noted that the emerging technologies and trends present both unprecedented opportunities and challenges.
Maida said this in his opening remarks at the Telecoms Industry Risk Management Conference, held at the Radisson Blu Hotel, Ikeja, Lagos.
He emphasized the critical importance of the theme of the conference, ‘Evolution and Future Risk Management in the Telecoms Industry: Harnessing Emerging Technologies and Trends’.
The NCC boss acknowledged the pivotal role of the telecommunications industry in shaping communication, connectivity, and business, especially in the face of rapid technological advancements.
He highlighted the challenges posed by the current 5G networks and looked ahead to the dawn of 6G technology, with its promises of faster speeds and groundbreaking applications.
However, he cautioned about the responsibility to address new risks, ranging from cybersecurity threats to ethical considerations, to ensure a secure and inclusive digital future.
Anticipating the future, Dr. Maida also mentioned the looming prospect of 7G technology and stressed the importance of collaboration, innovation, and a proactive approach in managing risks associated with each generational leap.
He further discussed the implications of emerging technologies such as quantum technologies, advanced artificial intelligence, and blockchain, emphasizing the need for careful consideration in risk management strategies.
The NCC, according to Dr. Maida, is committed to fostering an environment that encourages innovation while prioritizing the security and stability of the telecom infrastructure.
He called for collaborative efforts among regulators, industry players, and stakeholders to share best practices, threat intelligence, and resources in implementing robust risk management strategies.
In his welcome address, Mr. Kelechi Nwankwo, the Head of Corporate Planning, Strategy & Risk Management (HCPSRM), echoed the sentiment of embracing the challenges and opportunities presented by emerging technologies in the telecoms industry.
He emphasized the need to analyze, adapt, and effectively manage risks as the industry witnesses convergence of diverse technological advancements.
Mr. Nwankwo highlighted the conference’s theme and its relevance in reviewing operating standards to align with international best practices.
He urged participants to actively engage in discussions, dialogue openly, and contribute to fruitful exchanges during the conference, emphasizing the collective responsibility to address risks and safeguard the industry’s growth and sustainability.
The Telecoms Industry Risk Management Conference aims to be a platform for key insights, experiences, and collaborative efforts that will shape the future of risk management in the ever-changing landscape of the telecom industry.
