Telecom
NOTAP DG Vows to Penalise Firms that Fail’s to Register Technology Transfer Agreements
Dr. Obiageli Amadiobi, director general, National Office for Technology Acquisition and Promotion (NOTAP), has said that Companies that do not submit their technology transfer agreements to NOTAP for proper evaluation and registration will soon face stiff penalties and prosecution.
Dr. Amadiobi made this revelation when she led the top Management staff of NOTAP on a familiarization visit to some Information and Communication Technology (ICT) companies in Lagos on Thursday, June 13th, 2024.
She stated that NOTAP was established to regulate the inflow of foreign technology through the registration of technology transfer agreements to promote the development of locally motivated technologies.
The Director General further stated that while the Office is working assiduously to ensure that Nigerian companies are offered the best contractual terms in acquisition of foreign technologies, some companies are hiding under the non-registration of hardware to avert registration of their agreements because they have lumped up software and hardware together thereby shortchanging the system.
She expressed the commitment of the Office in synergizing with companies that strictly comply with NOTAP rules but will ensure stiff punishment for erring ones.
“Available records show that a greater percentage of companies in Nigeria operate on imported technologies which run into millions of dollars without
NOTAP registration necessitated by Law, thereby shortchanging the Nigerian economy. ”
By law, it is mandatory that NOTAP should be involved during the technology negotiation stage to ensure that the Nigerian entrepreneur acquires appropriate technology in best contractual terms so to enable rendition of services commensurate with the money spent on it.
The new NOTAP boss said that in line with the renewed hope mantra of the present administration, no company is allowed to continue to avoid registration of technology transfer agreements with NOTAP.
She also stated that some operators lump acquisition of foreign hardware with the software with the claim that the technology cannot be registered since it is hardware.
She emphasized that such companies are doing great disservice to the nation and should henceforth desist from such practices.
Earlier in his welcome address, Mr. Adewale Adeyipo, managing director and chief executive officer of Computer Warehouse Group (CWG), expressed delight in the energy and enthusiasm demonstrated by the new DG within a few days of her appointment, adding that the company is ready and willing to partner with NOTAP in ensuring the development of the ICT ecosystem.
He said that NOTAP’s mandate and activities are enormous and strategic to directly or indirectly generate over 2000 jobs annually within the ICT space. He added that for a nation to be globally competitive, it must adopt one of the key elements of growth, which is ICT holistically.
He said that what government in the developed countries consider first while thinking of investment is digital penetration and regretted that over the years the Country has expended over 987.8 million US dollars on digital media subscription and downloads, adding that this sum could have been saved for Nigerian economic growth if adequate support for local ICT operators had come from government through policies.
In the same vein, the Managing Director and Chief Executive Officer of Microsoft Nigeria plc, Mrs. Ola William said that NOTAP had done remarkably well in fast-tracking the development of the ICT sector.
She used the opportunity to debunk the rumor making the rounds that Microsoft was winding up to leave Nigeria, adding that the company was committed to the sustainable growth of the ICT ecosystem.
MTN Foundation hosted its annual Anti-Substance Abuse Programme (ASAP) Conference on July 9, 2025, at the MTN Rooftop in Ikoyi, Lagos, bringing together stakeholders from government, healthcare, education, security, civil society, and the private sector to address the growing challenge of drug abuse among Nigerian youth.
L-R: Tobe Okigbo, Chef Corporate Services Officer, MTN Nigeria; Archieabia Ibinabo, Assistant Commander General of Narcotics, representative of Brig. Gen Mohammed Buba Marwa, Chairman/CEO, National Drug Law Enforcement Agency (NDLEA); Barrister Abimbola Salu-Hundeyin, Secretary to the Lagos State Government, (representative of His Excellency, Governor of Lagos State, Mr. Babajide Sanwo-Olu); RT. Honourable Princess Lasbat Mojisola Meranda, Deputy Speaker, Lagos State Assembly; Dr. Mosun Olusoga, Chairman, MTN Foundation; Odunayo Sanya, Executive Director, MTN Foundation, and Dr. Tolu Ajomale, Head of Special Projects and Mental Health, Lagos State Ministry of Health (representative of Prof. Akin Abayomi, Commissioner for Health, Lagos State) during the MTN Anti-Substance Abuse Programme (ASAP) Lagos Conference held in commemoration of World Drug Day at the MTN Rooftop, Ikoyi, Lagos on Wednesday, July 9, 2025.
Prominent attendees included Dr. Mosun Olusoga, Chairman of MTN Foundation; Barrister Bimbola Salu-Hundeyin, Secretary to the Lagos State Government; and Dr. Tolu Ajomale of the Lagos Ministry of Health, among others. Also present were representatives of NDLEA, UNODC, academia, psychologists, recovery advocates, and youth leaders.
Speaking on behalf of Governor Babajide Sanwo-Olu, Salu-Hundeyin reaffirmed Lagos State’s commitment to safeguarding its youth and fostering a future free from substance abuse. Dr. Olusoga emphasized that drug addiction extends beyond health, touching families, communities, and national well-being, calling for proactive, united action.
MTN Nigeria’s Chief Corporate Services Officer, Tobe Okigbo, stressed the company’s long-standing dedication to youth development through initiatives like ASAP. NDLEA’s Assistant Commander General of Narcotics, Archieabia Ibinabo, representing Brigadier General Buba Marwa, commended MTN Foundation as a vital ally in drug prevention efforts.
The conference featured personal stories of recovery in a session titled “Journeys Through the Fire,” followed by a panel discussion on multi-sectoral solutions to substance abuse. It concluded with a dramatic performance, “Just One Breath,” by LASU’s WADA Club, illustrating the personal and societal toll of drug use.
Executive Director of the MTN Foundation, Odunayo Sanya, closed the event with a powerful call to action, urging media, communities, and policymakers to drive sustained investment in youth empowerment and early intervention.
The Foundation reaffirmed its commitment to building resilience among young Nigerians and catalyzing cross-sector partnerships for a drug-free future.
MUSON Centre, Onikan, Lagos, was filled with music, pride and emotion on Thursday, July 4, as the Class of 2025 of the MTN Foundation–MUSON Diploma in Music graduated in a ceremony that celebrated discipline, artistry and the power of partnership in nurturing young Nigerian talents.
The event marked the culmination of two years of intensive training for the graduating scholars, supported by the MTN Foundation–MUSON Scholarship Programme. This partnership has provided full scholarships to hundreds of talented Nigerians, giving them access to world-class music education and helping them hone their skills as professional musicians.
Speaking at the ceremony, Dr. Mosun Olusoga, Chairman of the MTN Foundation, praised the graduates for their resilience and dedication. “Despite personal and financial obstacles, you showed up with determination, supported one another and embodied the values of excellence and empathy. You are stepping into the world as teachers, performers and cultural advocates. Nigeria and the world need your music now more than ever,” she said.
Chairman of MUSON’s Board of Trustees, Louis Mbanefo, SAN, reflected on the legacy of MUSON and the impact of its partnership with MTN. “Through the generosity of MTN and the dedication of our faculty, MUSON has produced more than 500 graduates who are making significant contributions to Nigeria’s cultural scene and beyond. As you join this vibrant alumni community, remember your responsibility to give back, uphold excellence and enrich the nation’s musical heritage,” he said.
Director of the MUSON School of Music, Princess Banke Ademola, described the graduates as ambassadors of discipline and artistry. “Today, we are not just sending graduates into the world; we are releasing ambassadors of discipline, creativity, and cultural excellence. Each of you has proven that with hard work and resilience, music can transcend challenges and inspire change. Go out there and let your music heal, connect, and transform lives.”
In her speech, Chief Mrs. Joke Chukwuma, Yeye Oba Iye of Ekiti Kingdom, encouraged them to use their music to inspire change and heal communities. “Music is the heartbeat of our culture, and today’s graduates are its future custodians. You are not just musicians; you are storytellers and architects of emotion. Carry your craft with pride and remember that your sound has the power to give voice to the voiceless and light to the world.”
As the graduates received their diplomas to loud applause, the event highlighted the impact of public-private collaboration in advancing Nigeria’s creative industries. The MTN Foundation–MUSON partnership continues to inspire hope for the future of music in Nigeria, turning dreams into reality and passion into excellence.
Nvidia has become the first publicly traded company to hit a $4 trillion market valuation, surpassing tech giants Apple and Microsoft. Shares rose 2.5% in early trading on Wednesday, July 9, lifting the chipmaker’s market cap past the historic milestone.
Nvidia’s rapid rise reflects its dominant role in powering the global artificial intelligence boom. The company’s chips run the data centers behind AI models and cloud services for Microsoft, Amazon, Google, and more. Global spending on AI infrastructure is expected to top $200 billion by 2028, driving further demand.
Nvidia’s revenue for the quarter ending in April soared 69% year-over-year to $44.1 billion. Its stock has climbed nearly 20% this year, despite facing export restrictions and fresh competition from China’s DeepSeek, which briefly rattled markets. Nvidia shares dropped as much as 37% from January to April, before roaring back to gain almost 74% since early April.
Analysts say Nvidia’s success cements it as the backbone of the AI revolution. “There is one company in the world that is the foundation for the AI revolution, and that is Nvidia,” wrote Wedbush Securities’ Dan Ives. He predicts Microsoft, currently valued around $3.77 trillion, will also cross the $4 trillion threshold later this summer.
Nvidia rose to prominence through graphics cards loved by gamers, but now leads in AI hardware, from autonomous vehicles to next-gen chips like the Blackwell Ultra, which promises to support more advanced reasoning in AI models.
The company’s surge has also made CEO Jensen Huang one of the world’s richest people, with a net worth of roughly $140 billion. Huang has met with President Trump and joined other tech leaders on trips abroad, as Nvidia partners in major initiatives like Project Stargate, a $500 billion push to expand US AI infrastructure.
Despite challenges from new players and US-China trade tensions that cost it an estimated $2.5 billion last quarter, Nvidia’s outlook remains bright. On a May earnings call, Huang said AI would become essential for “every country” and “every industry,” from software and healthcare to manufacturing and transportation.
Some on Wall Street believe Nvidia’s rise is only beginning. Loop Capital analysts recently projected the company could reach a staggering $6 trillion valuation by 2028, calling it “essentially a monopoly for critical tech” in the AI space.
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