NCC CEO highlights future risks, opportunities in telecoms at industry conference in Lagos

The Executive Vice Chairman and CEO of the Nigerian Communications Commission (NCC), Dr. Aminu Maida, delivered the opening remarks at the Telecoms Industry Risk Management Conference held on Tuesday, February 20, at the Radisson Blu Hotel, Ikeja, Lagos.

The conference, themed “Evolution and Future Risk Management in the Telecoms Industry: Harnessing Emerging Technologies and Trends,” brought together a diverse group of stakeholders, including risk experts, academics, financial institutions, and telecommunications professionals.

Dr. Maida began by expressing his pleasure in being surrounded by such distinguished individuals and extended a warm welcome to all attendees. He emphasized the significance of the conference’s theme, noting that the evolving nature of the telecommunications industry demands a forward-thinking approach to risk management. The conference provided a platform to explore the critical issues at the intersection of technological advancement and risk management in the telecom sector.

In his remarks, Dr. Maida highlighted the rapid technological advancements that are driving innovation in the telecommunications industry.

He pointed out that the industry is at the forefront of shaping how we communicate, connect, and conduct business in an increasingly digital world. With this dynamic environment comes the necessity for robust risk management strategies that can adapt to the fast-paced changes in technology.

Dr. Maida specifically addressed the current landscape of 5G networks, acknowledging the challenges posed by the wider attack surfaces created by the increased number of connected devices and denser network infrastructure.

He stressed the importance of looking beyond the present to anticipate future developments. As the industry stands on the brink of 6G technology, Dr. Maida noted that this next frontier in wireless communication holds immense potential to revolutionize connectivity with faster speeds, lower latency, and groundbreaking applications.

However, Dr. Maida also cautioned that with the advent of 6G technology, new risks must be addressed. These include cybersecurity threats and ethical considerations that could arise as we move toward a more connected future. He underscored the responsibility of industry leaders and stakeholders to ensure that the development and deployment of these technologies are accompanied by comprehensive risk management strategies.

The conference served as a crucial forum for participants to discuss the challenges and opportunities presented by emerging technologies in the telecom industry. Dr. Maida’s remarks set the tone for the event, encouraging attendees to consider both the promises and the risks of future technological advancements, to pave the way for a secure and inclusive digital future.

He added: “Looking beyond, the prospect of 7G technology also looms on the horizon. As we contemplate the possibilities, we must acknowledge that with each generational leap, we face not only technological advancements but also a fresh set of challenges. Anticipating and managing risks associated with 7G will require collaboration, innovation, and a proactive approach to ensure the seamless integration of this technology into our interconnected world.

“In addition to the evolution of connectivity, we must consider the implications of emerging technologies such as quantum technologies (computing, sensing, and communications), advanced artificial intelligence, and blockchain (distributed ledger) technologies. These trends, when harnessed effectively, hold the potential to transform our industry positively. However, they also introduce complexities that demand careful consideration in our risk management strategies.

“The Nigerian Communications Commission (NCC) remains committed to fostering an environment that encourages innovation while prioritising the security and stability of our telecom infrastructure. As we navigate through 5G and the uncharted territory of the next generations of wireless technologies, collaborative efforts among regulators, industry players, and other stakeholders become even more crucial for sharing best practices, threat intelligence, and resources and implementing robust risk management strategies. We should therefore move beyond mere compliance and reactive measures, and instead, harness the power of these new technologies and trends to build a resilient and future-proof industry.

“You would recall that in my engagements with the Industry and Media, I had stated that collaboration is a key driver of my leadership. Together, we can build a shared understanding of emerging risks and develop comprehensive mitigation strategies.

“Building a culture of risk awareness is paramount. As an industry, we must empower our people with the knowledge and skills to proactively identify and report risks and embed security awareness and risk management practices throughout our business processes. Emerging technologies such as AI should be leveraged to generate data-driven insights needed to predict, detect, and respond to risks in real-time. We should also monitor evolving threats and vulnerabilities continuously and streamline incidence response processes to build a resilient telecom industry.

“Ladies and gentlemen, as we engage in discussions in these two days, let us not only address the challenges posed by current technologies but also anticipate and prepare for the opportunities and risks associated with the evolution towards 6G and beyond. Together, we can ensure that the telecoms industry not only adapts to change but thrives at the forefront of technological innovation. Thank you for your attention, and I wish you all a forward-thinking and enlightening conference.”