General News
NCC Seeks Identification, Elimination of Risks in Telecom Sector
The Nigerian Communications Commission (NCC) has embarked on a regulatory step to sensitize the industry about the need for proper and continuous risk identification with the view to managing such risks before they affect the health of the industry.
To this effect, the Commission has hosted a two-day maiden conference at its headquarters in Abuja, where its Executive Vice Chairman, Prof. Umar Danbatta, said it has become imperative to minimize risks in the industry to ensure that services are not disrupted, and that consumers obtain the best services that are globally available.
The conference with the theme: “Nigerian Telecommunications Industry: Managing the Emerging Risks and Embracing Risk Opportunities,” called for collaboration between the regulator and other stakeholders in the industry, to achieve multi-stakeholder strategies aimed at identifying and addressing emerging risks in the telecommunications sector to ensure sustainable and impacting growth.
Director of Policy, Competition and Economic Analysis, Yetunde Akinloye, who stood for the EVC, said the essence of the forum was to examine myriads of issues that challenge the implementation of the National Digital Economy Policy & Strategy (NDEPS) 2020-2030, and to enhance the development of a sustainable ICT sector in Nigeria.
“The focus of this conference is to bring to the fore the ever-rising uncertainties in the global economy and the attendant regulatory/operational risks in the areas of increased data security regulations, new partnerships and transforming business models, fast-changing mix of mounting capital expenditure (CAPEX) burdens, shifting market structures, newly emerging disruption scenarios, regulatory and policy challenges amongst others,” Danbatta said.
The EVC told participants at the event, which also featured virtual participation, that the Commission has been at the forefront of ensuring that the telecoms industry is not adversely impacted by these uncertainties/risks. He stated that one of our Strategic Visions is to ensure a competitive market for the communications services that foster fair inclusion of all players, promote local content and innovative services in ways that facilitate new investment, job creation and consumer satisfaction.
Danbatta said the NDEPS is the guiding document for the Federal Government’s activities to maximise the immense opportunities that are inherent in digital technologies to nudge the diversification of Nigeria’s economy and attain the key national objectives of improving security, reducing corruption, and expanding the economy.
“While risk management has been critical in our regulatory service delivery, we acknowledge that all stakeholders must be concerned about the varied uncertainties that confront the Industry. There is no gainsaying the fact that the Information and Communication Technologies Sector is inherently filled with several business and technology risks,” Danbatta said.
“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. The Commission in a bid to ensure that operators in the industry enjoy a conducive operating environment has had cause to seek government interventions and collaborate with other Agencies of Government in addressing major sectoral risks.
“These risks include cybersecurity and online fraud, regulatory burden, multiple taxation, vandalism of telecommunication infrastructure, right of way challenges, access to foreign exchange, inter-industry indebtedness, among others,” he said.
In his paper presentation titled ‘X-raying Telecommunications Risk Radar: The Operators’ Perspective’, a facilitator at the event, who spoke to issues of concern to operators, Eniola Olugboyega, said that risk-taking can have positive or negative impact on businesses. He also stated that most common losses from improper management of risk in the sector include customer dissatisfaction, fines and litigation, product failure, and loss of business opportunities, among others.
According to him, effective risk management aids effective decision making, prevents financial and reputational loss and addresses potential threats. Thus, telecommunication risk from the operators’ perspective includes regulatory risk, insecurity, data breach risk, foreign exchange risk, rising CAPEX risk, human resource risk, and the inability to take advantage of new business models.
Dr Saeed Olorunnisola, interim Dean of the Faculty of Agriculture at Al-Hikmah University in Ilorin, Kwara State, has urged the federal and state governments to prohibit the use of smartphones in secondary and tertiary schools.
Olorunnisola stated that the prohibition will help students concentrate in class.
He stated this during the mission for the eradication of examination malpractice’s (MEEM) second national symposium in Osogbo, Osun State, at the weekend.
Olorunnisola expressed concern about the impact of examination malpractices on education and national development, citing social media as a major impediment to students’ concentration even in secondary schools.
“Social media is causing distraction in secondary schools. Tertiary institutions are the worst. Students don’t care any longer. Some of them are taking photo shot of notes and they will not read them. They are usually on social media.
“What we have right now is a misuse of technology and it must be taken away. We have a university that has banned their undergraduate from using mobile phones,” he said.
Speaking on the need for government to act and assist young learners to concentrate in class, the don said ban on the use of smartphones by a particular university that he did not disclose eventually assisted its students to concentrate more in class.
In his remarks, Prof Buniyameen Abdulkareem, chairman of the MEEM Board of Trustees, stated that the group, a non-governmental organisation founded by the Muslim Students’ Society of Nigeria B-Zone, organised the symposium for policymakers, students, and teachers after realising the need to stem the tide of rising examination malpractices in the country.
General News
Amid Rising Investor Confidence in Nigeria, Woodhall Capital Foundation Trains Captains of Industry
As business confidence in Nigeria rose to the highest level in 14 months signalling a rising demand for their goods and services, Woodhall Capital International Foundation (WCIF), a subsidiary of Woodhall Capital, a leading financial advisory firm, in partnership with Mentor Intro Africa, a premier platform for connecting with the world’s foremost mentors, has commenced the training of a new generation of Captains of Industry through an ongoing 6-week intensive mentorship programme.
Speaking about the programme which commenced with forty shortlisted mentees on Friday March 5 at EbonyLive Studios, Victoria Island, Lagos, the President of Woodhall Capital, Mrs. Mojisola Hunponu-Wusu, noted, “We are very excited to bring together 40 Captains of Industry and share ideas and visions on how to build sustainable businesses in Nigeria.
It’s been a wholesome experience from 9am to 3pm. It’s so heartwarming to have found Captains of Industry who are indigenous to Africa and others who are going global. We shared ideas on how exactly we can accomplish these, the peculiarities of doing business in Nigeria, and the possibilities of Africans building offices around the world. That’s what we have started on Friday.”
Reinforcing what the partnership means to her, the Founder of Mentor Intro Africa, Mrs. Fola Niyi-Duale, remarked, “What we set out to do is to bridge the gap between career professionals and those who have already walked the path.
“It means we created a structured virtual platform where experienced industry leaders can guide, support, and inspire professionals and entrepreneurs on their journey to greatness. This is big because it epitomizes impact and we’re leaving a legacy for people to see and enjoy a future that we may not even be a part of, but we have laid the foundation.”
Both partners reiterated that the mentorship is not for the optics and its impact upon completion would far-reaching.
One of the mentees, Co-founder/Chief Technical Officer, Blue Sands STEM LabsOveral, Kingsley Okechukwu, excitedly said, “I’m glad I got the opportunity to be part of this mentorship. Our first session reinforced the significance of visionary leadership, employee retention, continuous innovation, and strategic positioning in ensuring long-term business success.”
This collaboration between Mentor Intro Africa and Woodhall Capital Foundation brings together visionary leaders, seasoned professionals, and the next generation of changemakers in an empowering initiative designed to bridge mentorship with high-impact leadership.
Together, the partners aim to spotlight industry pioneers, foster meaningful dialogues, and create lasting impact across Africa’s business and professional landscape.
National Space Research and Development Agency (NASRDA) is set to commence the implementation of its space regulation and licensing mandate following the approval of a N20 billion take-off fund by President Bola Tinubu.
Speaking in an interview, Dr. Matthew Adepoju, director-general, NASRDA, emphasised that the agency’s regulatory functions, as outlined in the NASRDA Act (2010), have remained unfulfilled since its establishment in 1999.
To address this, Adepoju submitted a memorandum to President Tinubu advocating for enforcement of space regulation, leading to the recent approval of funds.
Adepoju highlighted the urgency of regulating Nigeria’s space sector to prevent misuse, particularly regarding security-sensitive activities.
The regulatory framework will oversee:
Satellite image providers
Geographic information system operators
Satellite-based telecommunications and broadcasting services
He warned that unregulated geographical data intelligence could be exploited by non-state actors, underscoring the importance of strict oversight.
NASRDA has set up a licensing platform open to public and private sector operators in the space industry.
The regulation will cover Nigeria’s three space segments:
Upstream – Deep space activities
Midstream – Satellites and orbital objects
Downstream – Ground stations and space service users
Although the agency has yet to access the N20 billion fund, Adepoju confirmed that regulatory and licensing functions have commenced.
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