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NOTAP Awards Academic Fellowship on 10 Nigerians

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The National Office for Technology Acquisition and Promotion (NOTAP) has presented academic fellowship awards to ten young Nigerians under the NOTAP-Industry Technology Transfer Fellowship (NITTF) Scheme second batch beneficiaries.

Performing the ceremony held at the Reiz Continental Hotel Abuja, Permanent Secretary of the Federal Ministry of Science and Technology and Chairperson NOTAP Governing board, Dr. Mrs. Amina Shamaki said that as a regulator of technology transfer from foreign countries into Nigeria, NOTAP observed that there are many inadequacies and disconnect between industries and the National Innovation System which resulted in the absence of value creation and inability to acquire and adapt imported technologies beneficial to the national economy.

Dr. Shamaki who was represented by the acting Director Technology Acquisition and Assessment Mr. F. N Anpe said in order to address the weaknesses and huge gaps in the process of acquiring and adapting imported technologies into Nigeria, NOTAP came up with the NOTAP-Industry partnership initiative with a number of schemes in 2009.

She added that the NITTF is one of the schemes and it is aimed at providing an efficient process for the acquisition and domestication of foreign technology stressing that the scheme will serve as a platform through which industries will voluntarily support the process of building the needed critical mass of highly skilled knowledge workers and the development of specialized personnel, strategic managerial skills and provision of key technology acquisition process which are industrial Research and Development (R&D) capacities and capabilities.

The Permanent Secretary commended the companies who have redeemed their pledges and appeal to those who are yet to key in to the scheme to do so adding that the Federal Ministry of Science and Technology is fully in support of the NOTAP-Industry partnership initiative and will follow closely its implementation.

In his remarks, the Director General NOTAP Dr. DanAzumi Mohammed Ibrahim said the scheme was borne out of the urgent need to bridge the wide gap between research and industry.

He said the scheme is a Public-Private Partnership (PPP) platform designed to create indigenous critical technological competencies of elite applied knowledge workers in Nigeria through special PhD programmes tenable in Nigerian Universities.

The support he added is for a maximum period of four years to be implemented by NOTAP and Industry.

Dr. Ibrahim revealed that the fellowship from the industries will support training of selected candidates to acquire PhD with industrial content in Nigerian Universities and ultimately become lecturers in tertiary institutions. The spectrum of the fellowship he stressed included funds and access to laboratories and home and abroad.

He added that one of the NOTAP Industry initiatives is the partnership with PZ Cussons Nigeria Plc. and Indorama Plc. wherein the two companies donated some chemical analysis equipment to the University of Calabar, Modibbo Adama University of Technology Yola, National Research Institute for Chemical Technology Zaria and Nigerian Institute for Laboratory Science Technology Ibadan as part of the upgrade of chemical laboratories of these institutions which have all been commissioned between the years 2011 to 2017.

He expressed appreciation to the sponsoring companies for their kind gesture under the NITTF scheme which he noted will help Nigeria leapfrog into the technologically advanced nations of the world.

The representative of the Permanent Secretary Federal Ministry of science and Technology Mr. Anpe, the Director General Federal Institute of Industrial Research Oshodi Lagos, Prof. Gloria Elemo, Vice-Chancellor Abubakar Tafawa Balewa University Bauchi Prof. Saminu Ibrahim, DG Nigerian Institute of Leather Science Technology (NILST) Zaria Dr. E. N Oparah and DG National Centre for Technology Management (NACETEM) Ibadan all took turns to make presentation to the award recipients.

The ten Nigerians who benefitted from the fellowship were Dr. O.O Folashade (Microbiology Universty of Lagos being sponsored by CAP Plc, H. A Modu-Kagu (Department of Animal Science University of Maiduguri) sponsored Promassidor Nigeria Plc, Akinrinde Ibukunoluwa Motunrayo (Department of Food Technology of University of Ibadan) sponsored by Dufil Prima Foods Ltd, Umar A. Mustapha (Department of Animal Science ATBU Bauchi) sponsored by Friestland Campina WAMCO Nigeria Plc, and Fatoki Jimoh Gbenga (Department of Agricultural & Environmental Engineering University of Ibadan) sponsored by PZ Cussons Nigeria Plc.

Others include, M. A Dikko (Department of Chemical Engineering ABU Zaria) sponsored by Procter & Gamble, Ohio Oyinyechi Vivian (Department of Physical Chemistry University of Ibadan) sponsored by Procter & Gamble, Chalbyen John Magaji (Department of Agricultural Engineering University of Agriculture Makurdi) sponsored by Nigeria Breweries Plc, Desmond Nwazie (Department of Chemical Engineering University of Lagos sponsored by Nigeria Breweries Plc and A.A Ahmed (Department of Chemical Engineering ABU Zaria) sponsored by PZ Cussons Nigeria Plc.

Goodwill messages were presented at the occasion by representatives of the sponsoring companies, research institutes and the academia.

The NITTF grants fellowship awards and support to qualified Nigerians interested in research based PHD programmes in all areas of technology needs and priority areas of industry. The first batch of the NITTF fellowship was awarded to 5 Nigerians in 2017 and the second batch recently awarded to 10 Nigerians.


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EFCC Arraigns Two FSDH Bank Officials Over $307k, €50k Fraud

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Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC), Ikoyi, Lagos, on Tuesday, March 3, 2026, arraigned two bank officials, Bakare Oladimeji Surajudeen and James Olukayode Imokwede, over an alleged $306,667.81 and €50,250 fraud before Justice Ismaila Ijelu of the Lagos State High Court sitting in Ikeja.
EFCC Arraigns Two FSDH Bank Officials Over $307k, €50k Fraud

EFCC

The defendants, who are both top officials of FSDH Merchant Bank Limited, were arraigned on a 10-count charge bordering on alleged stealing and retention of stolen property to the tune of $306,667.81 and €50,250.
The petitioner, FSDH Merchant Bank Limited, alleged that an internal audit uncovered unauthorized debits totaling $306,667.81 and €50,250, equivalent to N527,406,916.66 (Five Hundred and Twenty-Seven Million, Four Hundred and Six Thousand, Nine Hundred and Sixteen Naira, Sixty Six kobo), from its Letters of Credit (LC) payable accounts.
Investigations revealed that the defendants processed fraudulent transfers through the SWIFT platform to third parties.
One of the counts reads:
“That you, BAKARE OLADIMEJI SURAJUDEEN and JAMES OLUKAYODE IMOKWEDE, sometime in 2021 in Lagos within the jurisdiction of this Honourable Court, dishonestly took the sum of N527,406,916.66 (Five Hundred and Twenty-Seven Million, Four Hundred and Six Thousand, Nine Hundred and Sixteen Naira, Sixty Six kobo), property of FSDH Merchant Bank Limited.”
Another count reads:
“That you BAKARE OLADIMEJI SURAJUDEEN AND JAMES Olukayode Imokwede sometime in 2021 in Lagos within the jurisdiction of this Honourable Court dishonestly took sum of $306,667. 81 (Three Hundred and Six Thousand, Six Hundred and Sixty Seven dollars, Eighty one cents) property of FSDH Merchant Bank Limited”.
The defendants pleaded “not guilty” to all the charges preferred against them.
Following their pleas, prosecution counsel, H. U. Kofarnaisa, asked the court for a trial date and also prayed that the defendants be remanded in a Correctional facility pending trial.
Counsel to the first and second defendants, Oluwaseun Akintunde and Olajide S. Onasanya, informed the court that bail applications had been filed on behalf of the defendants and also urged the court to grant them bail on liberal terms.
They also prayed that the defendants be remanded in the EFCC custody pending the perfection of their bail conditions.
The prosecution counsel, however, opposed the prayers of the defence seeking the remand of the defendants in the EFCC custody, saying that “the EFCC detention facilities are overstretched.”
After listening to both parties, Justice Ijelu granted the defendants bail in the sum of N2 million each, with two sureties in like sum.
The court ordered that one of the sureties must be a relative, who is gainfully employed.
The sureties must provide evidence of tax payment in the last three years and must show proof of livelihood, with their residences verified.
The defendants were ordered to deposit their international passports with the court, and must not travel outside the country without the leave of the court.
The judge subsequently remanded the defendants in a Correctional facility pending the perfection of their bail conditions.
Justice Ijelu adjourned the matter till March 25, 2026, for the commencement of trial.

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AfDB Supports Francophone Africa Start-ups with €6.5M

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The African Development Bank Group last week approved an investment of €6.5 million in the Saviu II fund in order to support technology start-ups through their seed phase and first institutional fundraising, mainly in French-speaking Central and West Africa.

The Bank will invest €4.5 million as equity and €2 million as a first-loss hedging tranche on behalf of the European Commission, under the Boost Africa Programme.

This participation of the Bank Group will enable the Saviu II fund to give priority to companies with a strong technological or digital component.

Saviu II, the second investment vehicle of Saviu Partners, plans to invest between €500,000 and €3 million in about 20 technology or technology-oriented business-to-business start-ups in the seed phase or carrying out first institutional fundraising.

The Saviu II venture capital fund aims to make at least 60% of its commitments in the French-speaking countries of West and Central Africa: Côte d ‘Ivoire, Cameroon, Benin, Senegal, Togo, Burkina Faso and Mali.

The fund can also co-invest in promising technology companies in East Africa that have a strong team and business model, and whose strategy includes entering the market in French-speaking West African countries and establishing a strong presence there.

In addition, the fund will devote a dedicated envelope to pre-seed investments, focusing on minority equity investments, usually in co-investment with studios, incubators or other ecosystem partners.


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Nigeria Inks $1.3bn MoU with AFC for Alumina Refinery, Mining Push

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Nigerian Government has signed a $1.3 billion Memorandum of Understanding (MoU) with Africa Finance Corporation (AFC) via the Solid Minerals Development Fund (SMDF) to fund an alumina refinery, national geoscience mapping, and a strategic investment vehicle for mining growth.

Nigeria Inks $1.3bn MoU with AFC for Alumina Refinery, Mining Push

Special Assistant to the Minister of Solid Minerals Development, Segun Tomori, said the refinery will process one million tonnes of bauxite yearly using a modern Bayer process, powered by an on-site gas-fired cogeneration plant.

Minister Dele Alake called it a transformative milestone boosting GDP, aligning with reforms that improve investment climate, regulations, and licensing to attract private capital. He directed agencies to fast-track permits.

The 20-year project at 95% utilization eyes 19 million tonnes total output, $1.2 billion annual GDP addition, $25 billion economic impact, and $8 billion forex earnings, per feasibility studies.

SMDF Executive Secretary Fatima Shinkafi termed it the agency’s biggest funding deal, supporting value-addition policy.

The partnership extends to geoscience mapping for mineral data, de-risking exploration, and a joint vehicle for mining assets.

Permanent Secretary Engr. Farouk Yabo praised the reforms. Shinkafi signed for government; AFC’s Franklin Edochie for the corporation, witnessed by AFC CEO Samaila Zubairu.

Tomori positioned it as Nigeria’s largest private mining investment and FDI magnet.


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