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Establishment of IPTTO Triggers Demand-driven Research – Ibrahim

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The initiative of the National Office for Technology Acquisition and Promotion (NOTAP) in establishing Intellectual Property and Technology Transfer Offices (IPTTOs) in Nigerian knowledge institutions has triggered market and demand-driven research.

Dr. DanAzumi Ibrahim, Director General of NOTAP, made this disclosure while commissioning the IPTTO in Enugu State University of Science and Technology (ESUT) recently.

Dr. Ibrahim who was represented by the Director, Consultancy Services department in NOTAP, Mr. Adamu Tandama said the establishment of IPTTO in the Nigerian Universities, Polytechnic and Research Institutions was to create awareness on the importance of Intellectual Property (IP).

He said that Intellectual Property culture in Nigeria was low and for a country that aspires to be one of the leading economies in the world, Nigeria should be an exporter of technology and not depend on foreign technologies.

He further noted that in order to encourage the development of indigenous technologies, NOTAP in partnership with the World Intellectual Property Organization (WIPO), established IPTTOs in some selected Nigerian knowledge Institutions in 2006.

He further stated that there are a lot of inventive and innovative activities going on in Nigerian knowledge Institutions but not properly directed towards demand and market-driven research.

He added that the establishment of IPPTO in Nigerian Universities, Polytechnics and Research Institutions will expose the researchers to over 6 million research results which serve as a guide to researchers in carrying out their work.

The DG further stated that while Universities and Research Institutions in the developed countries generate enough revenue from licensing and Commercialization of their research results, Nigerian knowledge Institutions waits for budgetary allocations.

He challenged the University Community to maximize the opportunity offered by IPTTO to ensure that Patents are generated for licensing and for eventual generation of funds for the institution.

Earlier in his address, the Vice Chancellor of ESUT, Prof. Luke Anike said the Commissioning of IPTTO in the Institution was a dream come true. He said a lot of research activities have been carried out in the Institution but have not been presented for patenting due to inadequate knowledge on patent.

Prof. Anike was delighted that the IPTTO which was established in the Institute a long time ago but was not commissioned due to some logistics problems is now established during his tenure.

He said though the University had been engaged in a lot of research works, the issue of Patenting which IPTTO seeks to facilitate was wonderful would leverage on the opportunity to generate income for the institution.

He said with the Commissioning of IPTTO in the University, it will be better positioned to generate revenue and encouraged researchers to explore the technical training being rendered by NOTAP to ensure that their research works are patented for onward licensing and commercialization.

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E-Business

IBM Study Unveils Hidden Costs of Data Breach

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IBM Security has released a global study examining the full financial impact of a data breach on a company’s bottom line.

The study found that hidden costs in data breaches — e.g., lost business, negative impact on reputation and employee time spent on recovery — can be a huge factor. In a “mega breach” of 1 million or more records, one-third of the cost derived from lost business.

And the cost is on the rise; since the 2017 report, the average cost of a data breach globally has increased 6.4 percent, to $3.86 million, according to IBM. The number of mega breaches is also up — from nine in 2013 to 16 in 2017.

The study, sponsored by IBM and conducted by Ponemon Institute, also reveals that:

– Average cost of a data breach involving 1 million records is nearly $40 million.

– Estimated cost of a breach involving 50 million records is $350 million.

– Average time to detect and contain a mega breach (365 days) is 99 days longer than for a smaller-scale breach.

– In a mega breach, the greatest cost is from lost business, estimated at nearly $118 million for a breach of 50 million records.

A major factor in lost business cost is customer turnover — a recent IBM/Harris poll found that 75 percent of consumers in the U.S. say that they will not do business with companies that they do not trust to protect their data.

“The truth is there are many hidden expenses which must be taken into account, such as reputational damage, customer turnover, and operational costs,” said Wendi Whitmore, global lead for IBM X-Force incident response and intelligence services. “Knowing where the costs lie and how to reduce them can help companies invest their resources more strategically and lower the huge financial risks at stake.”

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Global Accelerex Trains Nigerian Security Agencies on Cyber Crime

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Global Accelerex Limited, a Central Bank of Nigeria-licenced Payment Terminal Service Provider and Payment Solution Service Provider, as part of its Corporate Social Responsibility Program, is set to train members of Nigeria’s Security Agencies on Cybercrime.

The event, which will hold on July 25, 2018 at Ladi Kwali Conference Center, Sheraton Hotel, Abuja, will enrich participants’ knowledge of the cyberspace and increase their versatility in dealing with on-line crime.

This collaboration, first of its kind in the e-payment industry, is borne out of the company’s desire to rid the nation of cyber criminals who continue to bring the country’s name into disrepute.

In addition to learning about cyber vulnerability, attendees will also learn about insider threats and sophisticated cyber adversaries.

The forum will host more than 30 participants including officials of the Nigerian Police, Nigerian Armed Forces, Economic and Financial Crimes Commission, Independent Corrupt Practices Commission, State Security Service, National Intelligence Agency and National Drug Law Enforcement Agency.

Others are Nigerian Security and Civil Defence Corps, Defence Intelligence Agency and Nigerian Custom Service.

“We applaud the effort of the Nigerian government in combating cybercrime and securing lives and property in the country. Global Accelerex is driven to compliment this effort to ensure that Nigeria is rid of these miscreants so that citizens can enjoy the cyberspace with the peace of mind they deserve.

It is absolutely critical that we support security operations so that Nigerians can use the internet freely, which is why this training is vital”, stated Stanley Peters, Chief Technology Officer of the company.

The National Security Adviser commends the initiative by Global Accelerex, saying that the move will definitely impact positively on the officers and the nation in general.

He added that continuous training is critical to stay ahead of criminals even as he revealed that attendees have shown a high level of enthusiasm at this unique opportunity.

Keynote speakers that will bring their experience to bear are Mr. Tahmeed Rab, Co-Founder and Managing Partner of Kaizen Solutions Group, Baltimore, USA and Mr. Peter Obadare, Co-Founder and Chief Operating Officer of Digital Encode.

Both experts are acclaimed for their ground-breaking achievements in cyber security, risk and compliance, mobile forensics, network and system consulting.

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Africa.com Acquires iAfrica

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Media holding company Africa.com has today announced its acquisition of Primedia and MTN-owned news portal, iAfrica.com. The terms of the agreement were not disclosed.

In a statement, Africa.com says the acquisition builds on the company’s strength in running the news Web site and the business publisher’s network, a group of nearly fifty business content publishers on the continent who have joined Africa.com to create a digital audience of over 15 million influential business people.

Africa.com chairman and CEO, Teresa Clarke, will serve as executive editor of iAfrica.

“The acquisition of iAfrica creates a next generation South African media platform with a global reach,” says Clarke. “By acquiring iAfrica, we are able to combine editorial, technology, and marketing resources, bringing the benefits of more original content and better site performance to readers of both iAfrica and Africa.com.”

Laura Joseph Africa.com’s MD, adds: “We are fusing a legendary African news portal with an innovative and dynamic management team under one umbrella. With combined resources, we will continue to make each site better and better.”

According to the statement, Africa.com has already started its re-branding of the iAfrica.com news portal.

“Africa.com is known for its creative content in the form of slideshows, videos, and infographics, and we will bring these content forms to iAfrica,” notes Debra Winter, COO of Africa.com.

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