{"id":20311,"date":"2025-10-11T06:00:00","date_gmt":"2025-10-11T05:00:00","guid":{"rendered":"http:\/\/www.funminews.com\/?p=20311"},"modified":"2025-10-10T15:26:13","modified_gmt":"2025-10-10T14:26:13","slug":"nigerias-tech-regulator-targets-hidden-transfers-achieves-70-compliance-among-multinationals","status":"publish","type":"post","link":"https:\/\/www.funminews.com\/index.php\/2025\/10\/11\/nigerias-tech-regulator-targets-hidden-transfers-achieves-70-compliance-among-multinationals\/","title":{"rendered":"Nigeria\u2019s Tech Regulator Targets Hidden Transfers, Achieves 70% Compliance Among Multinationals"},"content":{"rendered":"\n

ABUJA, Nigeria (AP) \u2014 The National Office for Technology Acquisition and Promotion (NOTAP) says it has achieved 70% compliance among multinational companies operating in Nigeria regarding the registration of technology transfer agreements, a move aimed at curbing unauthorized and concealed tech imports.<\/p>\n\n\n\n

Director-General Obiageli Amadiobi disclosed the figure during a press briefing in Abuja on Friday, ahead of the NOTAP Technology and Innovation Summit 2025. She said the agency\u2019s audits had uncovered backend systems and non-physical technologies that some companies were deliberately concealing to bypass regulatory oversight.<\/p>\n\n\n\n

\u201cWe have started seeing results. At least 70 percent of the companies are now complying,\u201d Amadiobi said. \u201cBut there are still a few hiding their technologies, and not all technologies are physical. Some are backend systems that we have uncovered through our auditors.\u201d<\/p>\n\n\n\n

Technology transfer agreements are legal contracts that allow Nigerian entities to use foreign firms\u2019 proprietary knowledge, including patents, software, and production methods. NOTAP\u2019s mandate includes ensuring that such agreements are registered and certified before funds are remitted abroad for technology services.<\/p>\n\n\n\n

Amadiobi said the agency\u2019s partnership with the Central Bank of Nigeria has been instrumental in enforcing compliance. \u201cBanks have now been mandated to ensure that no company remits money for technology-related transactions without obtaining a notarised certificate from NOTAP. This collaboration has significantly improved compliance,\u201d she added.<\/p>\n\n\n\n

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The NOTAP Technology and Innovation Summit will take place November 6\u20137 in Lagos, under the theme \u201cHarnessing R&D and Innovation Potentials of Nigeria\u2019s STI Ecosystem.\u201d The event will convene government officials, academics, investors, and startups to explore strategies for strengthening Nigeria\u2019s science, technology, and innovation landscape.<\/p>\n\n\n\n

\u201cThe summit will serve as a strategic platform to strengthen dialogue and action around innovation policy, technology transfer, intellectual property, and commercialisation,\u201d Amadiobi said. Highlights include keynote speeches, panel discussions on AI readiness, and the unveiling of Project NOVA\u2014Nigeria\u2019s Outsourcing Value Acceleration initiative.<\/p>\n\n\n\n

Amadiobi criticized foreign firms for exploiting Nigeria\u2019s raw materials while relying on imported technologies and research support. She cited the palm oil industry, where companies import seedlings from Cameroon and C\u00f4te d\u2019Ivoire despite sourcing raw materials locally. \u201cIt is very pathetic,\u201d she said. \u201cThese firms use our land and our raw materials but have no research labs here.\u201d<\/p>\n\n\n\n

NOTAP plans to summon the management of affected firms in the coming weeks to enforce the establishment of local laboratories, a move Amadiobi said could save Nigeria significant foreign exchange. She also reaffirmed the agency\u2019s commitment to the Local Vendor Policy, which has achieved 90% success in the ICT sector.<\/p>\n\n\n\n

\u201cThrough the LVP, Nigerian developers are now exporting locally built applications, including banking software,\u201d she said. \u201cWe want to replicate that success in other sectors.\u201d She added that only original, impactful innovations will be showcased at the summit, noting, \u201cIf someone presents us with bottled water branded differently, that\u2019s not innovation\u2014it\u2019s imitation.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

ABUJA, Nigeria (AP) \u2014 The National Office for Technology Acquisition and Promotion (NOTAP) says it has achieved 70% compliance among multinational companies operating in Nigeria regarding the registration of technology transfer agreements, a move aimed at curbing unauthorized and concealed tech imports. Director-General Obiageli Amadiobi disclosed the figure during a press briefing in Abuja on […]<\/p>\n","protected":false},"author":2,"featured_media":20313,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[2,4,3],"tags":[],"class_list":["post-20311","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-featured","category-naija-news"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.funminews.com\/wp-content\/uploads\/2025\/10\/Dr.-lady-Oby.webp?fit=474%2C592&ssl=1","jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/posts\/20311","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/comments?post=20311"}],"version-history":[{"count":1,"href":"https:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/posts\/20311\/revisions"}],"predecessor-version":[{"id":20314,"href":"https:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/posts\/20311\/revisions\/20314"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/media\/20313"}],"wp:attachment":[{"href":"https:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/media?parent=20311"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/categories?post=20311"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/tags?post=20311"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}