NOTAP DG Warns Firms of Penalties for Failing to Register Technology Transfer Agreements


NOTAP DG Warns Firms of Penalties for Failing to Register Technology Transfer Agreements

Dr. Obiageli Amadiobi, Director General of the National Office for Technology Acquisition and Promotion (NOTAP), has announced that companies failing to submit their technology transfer agreements to NOTAP for proper evaluation and registration will face severe penalties and prosecution.

During a familiarization visit to several Information and Communication Technology (ICT) companies in Lagos on June 13, 2024, Dr. Amadiobi emphasized that NOTAP was established to regulate the inflow of foreign technology by registering technology transfer agreements, thus promoting the development of locally motivated technologies.

Dr. Amadiobi stated that while NOTAP is committed to ensuring Nigerian companies secure the best contractual terms for foreign technology acquisition, some companies avoid registration by combining software and hardware agreements, thereby evading the system.

Read Also: President Tinubu Approves ICT Hub for Ekiti to Boost MSMEs

She expressed a strong commitment to penalize non-compliant companies while continuing to collaborate with those adhering to NOTAP regulations.

“Records indicate that a significant number of companies in Nigeria operate on imported technologies worth millions of dollars without the mandatory NOTAP registration, thereby shortchanging the Nigerian economy,” she noted.

By law, NOTAP must be involved during the technology negotiation stage to ensure that Nigerian entrepreneurs acquire appropriate technology under the best contractual terms.

In alignment with the renewed hope mantra of the present administration, Dr. Amadiobi asserted that no company would be allowed to avoid registration of technology transfer agreements with NOTAP. She criticized companies that bundle foreign hardware with software to avoid registration, deeming such practices as harmful to the nation.

In his welcome address, Mr. Adewale Adeyipo, Managing Director and CEO of Computer Warehouse Group (CWG), commended the new DG’s energy and enthusiasm and expressed readiness to partner with NOTAP to develop the ICT ecosystem. He highlighted NOTAP’s role in generating over 2,000 jobs annually within the ICT space and stressed the importance of holistic ICT adoption for national competitiveness.

Similarly, Mrs. Ola William, Managing Director and CEO of Microsoft Nigeria Plc, praised NOTAP’s contributions to the ICT sector’s development and dismissed rumors that Microsoft was leaving Nigeria. She affirmed the company’s commitment to sustainable growth in the ICT ecosystem.

Read Also: Tinubu Appoints Amadiobi as New DG/CEO of NOTAP

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