By Benprince Ezeh
THE Nigerian Communications Commission, NCC, has urged Telecom operators to adopt Regulatory Financial Statements, RFS. The framework, according to Commission, is effective, least invasive and less costly solution to implement to meet regulatory objectives.
Speaking in Lagos, Josephine Amuwa, Director, Policy, Competition and Economic Analysis, noted that regulators across several jurisdictions have made it mandatory for one or more service providers in Fixed and/or Mobile markets to submit RFS.
“The NCC recognizes the importance of mandating Accounting Separation within the Nigerian Communications industry given the changing dynamics and increasing complexity of the operations within the industry and to ward off anti-competitive behaviour amongst industry operators.
“Following the tradition of the Commission to adopt global best practices on all regulatory initiatives, we engaged KPMG Professional Services to assist in the development of an Accounting Separation Framework. In line with our culture of end to end collaboration with relevant stakeholders on critical issues that have both regulatory and operational implications, the Framework was presented at a public forum of industry stakeholders in March, 2015 to obtain inputs regarding the appropriateness of the framework for industry,” she said.
According to Amuwa, among the feedback received was the need to define a comprehensive roadmap for implementing the Framework as well as the need to build the capacity of operators to fulfil the requirements of the Framework.
“This event is therefore the capacity building for industry operators in line with the implementation roadmap, which commenced early in the year with the refinement and industry. It is also being facilitated by KPMG, who have an established track record in the implementation of same several other countries,” she said.
– Dec. 10, 2019 @ 18:25 GMT