In a strategic move to fortify its operational resilience, the Transmission Company of Nigeria (TCN) convened a two-day risk management workshop, designed to empower select staff with cutting-edge strategies for managing potential risks. The two-day event took place between 30th-31st July 2024, at the Corporate Headquarters, Abuja.
Declaring the workshop open, Executive Director, Human Resources and Corporate Services (HR&CS), Mrs. Abiodun Afolabi, emphasized the importance of risk management in achieving operational excellence.
She noted that the establishment of a stand-alone Risk Management Department, mandated by the erstwhile governing board of the Company was in recognition of the critical need to proactively identify and address potential risks that could impact TCN's operations and overall performance.
Mrs. Afolabi disclosed that the workshop provided a platform for staff to engage with risk management experts, share knowledge, and acquire skills to enhance TCN's operational resilience, explaining that the department's success is crucial to the company's progress and urged participants to take the workshop seriously.
Assistant General Manager, Risk Management, Engr. Afam Aguiyi, pioneer head of the Department, elaborated on the department's primary objective to identify, assess, and manage risks associated with the company's operations, ensuring a resilient and sustainable business environment.
Aguiyi highlighted the department's achievements, including the formulation of a risk identification module, production of risk management reports, and analysis of the vulnerability of TCN installations nationwide.
The AGM also expressed concern over the company's significant losses in recent months, citing Transmission Loss Factor (TLF) losses of N2.2 billion in January, N4.3 billion in February, and N3.2 billion in March.
While emphasizing the need to address these losses, which pose a significant risk to the company, he revealed that strategies have been developed to minimize their impact.
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