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SMEDAN Decries Dearth of Intellectual Property Among SMEs

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Dikko Umaru Radda, Director General, Small & Medium Enterprises Development Agency of Nigeria, SMEDAN has said that most Small and Medium Enterprises, SMEs struggle because they refuse to take advantage of intellectual property benefits to their businesses.

Radda said that robust intellectual property, IP, can grow businesses as much as it contributes to economic growth.

He regretted that in spite of this, a lot of businesses in Nigeria especially the small and medium size entrepreneurs do not assess, audit, evaluate or monetise their intellectual property.

Radda made the assertions at a forum tagged Intellectual Property  Forum Nigeria, organized by IP Radio Station in conjunction with hybrid indigenous tourism and leisure company, Butterfly Tourism

The DG who was represented by Bumi Daudu, said some of the SMEs don’t know even as little as what trade mark or protection is all about, and as a result,  have been running businesses for decades without any protection of their IP.

He said: “I think collaboration between those that are championing IPR in Nigeria and SMEDAN is inevitable at this moment where the business world is changing in Nigeria.

“People need to guard whatever they have with everything they have inside of them to make it work”

Earlier in his opening remarks,  founder/CEO of  IP Radio Nigeria, Mr Nosa Uwadaie called for the democratization of intellectual property, considering that it has become a human right.

He said: “We shouldn’t see IP as only meant for multinationals. It permeates every facet of our business and national life. In fact, IP is a human right property in every facet of human existence, be it biological, environmental or business.”

Corroborating Uwadaie, President of Intellectual Property Law Association of Nigeria, IPLAN, Obafemi Agaba said: “A robust IP regime will impact on the economy of the country. The government stands to gain from taxes and rates from a good commercialization of this right.

“And to give right to those who have created this work means that you are encouraging them to continue to create and add value to the cultural heritage of the country as well as economic advancement of the country” he added.

However, the Senior Special Assistant to Ogun State Governor on Trade, Mrs Sola Arobieke suggested that considering the lack awareness as discovered, there is need for collaboration between government and private sector organisations to identify and develop viable solution framework.

She noted that the SMEs must understand the process and how best to protect their IP. She also called for law reforms to enhance IP protection.

That is also as UK-based, Fractional IP founder, Mr. Akeem Fomuyiwa, said all the laws of IP should be revisited and taken care of through technological advancement.

He argued that technology has now provided enough tools to tackle IP infringements.


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When Will Enough be Enough for MTN Nigeria? — By Olayiwola Luqman, FCA

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The history of MTN Nigeria Communications Plc (MTN Nigeria) is replete with controversies and litigation unlike other players in the telecom sector. Some might argue MTN’s size naturally attracts its issues. This would, however, be too easy a way out of truly analyzing its issues.

MTN

Others would argue upon review, that it is more about its attitude to Nigeria and Nigerians, in other words, the Big Man syndrome, that is the catalyst for its issues. Since inception, MTN has hobbled from issue to issue. It has won some, lost others and settled some.

The company seems to relish in courting what many refer to as ‘needless controversies’, the outcome of which is the toga of arrogance that it adorns in seeking positions only beneficial to itself and seemingly disregarding government and regulatory positions, the impact of its actions on Nigeria and Nigerians as well as other non-altruistic positions.

One may strive to seek to understand a start-up company’s choice of courting controversies as a means of creating awareness and corporate presence but for a company like MTN Nigeria that is about to celebrate its silver jubilee, one would have thought that it should be weary of unnecessary controversies. This is, however, not the story of MTN Nigeria, unfortunately.

Currently, the company is in a court battle instituted against it, its business partner, ATC Nigeria Wireless Infrastructure Limited (ATC Nigeria), and three other bodies, by the Incorporated Trustees of HEDA Resources Centre (HEDA) over the construction of 2,500 base trans-receiver stations across Nigeria for MTN’s operations. HEDA a civil society group, has gone to court to stop MTN Nigeria and ATC Nigeria from siting new base stations where there are already existing base stations citing health and environmental concerns. The case with suit No: FHC/L/CS/2359/2023, was filed in the Federal High Court, Ikoyi, on 20 November 2023 and is still pending before the court.

In October 2015, MTN Nigeria’s arrogance and disregard of the country’s laws got it enmeshed in a regulatory quagmire resulting to a fine of N1.04 trillion (about $5.2 billion) against it, for the failure to disconnect 5.1 million unregistered subscribers from its network. Its imprudence did not end there but extended to the point where it was alleged to have bribed a senior government official so the fine could be reduced.

In yet another instance, MTN Nigeria shunned Nigerians’ calls for the adoption of per-second billing as its sister subsidiaries in other climes deployed and kept insisting, for many years, that such deployment was impracticable in Nigeria. The fleecing of Nigerians by MTN Nigeria continued until Glo Mobile debunked MTN Nigeria’s denials in 2003 and debuted with per-second billing. Even when the industry regulator, NCC insisted that it deploy per-second billing, MTN Nigeria was reluctant in its compliance and went so far as to illegally charge subscribers who wanted to migrate to that platform the sum of N100 each.

A look at MTN Nigeria’s over two-decade operations in Nigeria also reveals a series of corporate governance issues, including tax defaults, illegal repatriations of profits and other corporate vices. In 2018, the Federal Government, following a ten-year “revenue assets investigation” conducted between 2007 and 2017, accused MTN Nigeria of having some liabilities which included alleged unpaid/underpaid import duties of about N242.25 billion as well as withholding and value-added taxes of about $1.3 billion. Last year, a tax appeal tribunal sitting in Lagos ordered MTN Nigeria to pay $72,551,059 in tax default to the Federal Inland Revenue Services (FIRS).

What beats most people’s imaginations is that while other subsidiaries in the MTN Group operating in other markets have had issues (Iran and Afghanistan come to mind with the very serious allegations against them), they largely seem to be responsible corporate citizens in their countries of operation. MTN Nigeria, on the other hand, tends to be roguish and more hawkish in its operations. Its services are poor, yet they appear the most expensive in Nigeria.

These issues could only be as a result of arrogance believing that, by appointing eminent Nigerians who have headed regulatory bodies with oversight over its activities to the Board of Directors of the company, it would always be able to bulldoze its path by way of influence peddling through any regulatory issue. It is worthy of note that some notable civil society groups in the country have petitioned the relevant regulatory agencies to investigate these Board appointments, citing corporate governance as well as conflict of interest issues.

The company needs to reevaluate its operations in the country with a view to respecting the law and regulatory authorities as well as having more regard for Nigerians, whose patronage earns it the position of the largest revenue earner in the MTN Group. Nigerians deserve a better deal with MTN Nigeria and the Nigerian government is supposed to stand up and ensure that this happens by insisting on good corporate governance, without being swayed or intimidated by the company or the people that sit on its board.

– Olayiwola Luqman, FCA. Business analyst, writes from Lagos*


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Alleged $500m wasteful investments: I stand by my words, Heineken Lokpobiri dares Wabote

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Sen. Heineken Lokpobiri, Hon Minister Of State For Petroleum Resources have reiterated that he stands by his statement at The Petroleum Club’s quarterly event in Lagos, that NCDMB wasted over $500 million of the industry’s fund in equity investments in private establishments and in loans that are now non-performing.

The minster while reacting to recent media statement by SIMBI Wabote, former executive secretary to the Nigerian Content Monitoring and Development Board, NCDMB, dismissed as blatant lies from the pit of hell, claims that his office requested for increase on NCDMB budget by N30 billion for the office of the Minister.

In a statement signed by the Nneamaka Okafor ,SA Media and Communication, Minister Of State For Petroleum Resources(Oil),the minister noted that ‘’Our position is that he who alleges must prove same. So, if Mr. Wabote has proof of such conversation, he is challenged to provide same.

‘’Secondly the Minister has no aide called Blackson. All his aides were duly selected in line with extant laws and have documents to that effect.

According to the statement ‘’The Minister in his capacity as chairman of the Governing Council stands by his statement at The Petroleum Club’s quarterly event in Lagos, and as journalists I welcome you to visit the places mentioned to verify the allegations for yourself.

‘’Thirdly, the said Atlantic Refinery was supposed to be built in Mr Wabote’s home town, he should show Nigerians where that refinery is.

‘’Fourthly, the Brass Fertilizer and Petrochemical company was also paid for, you are welcomed to also visit the site to verify the facts for yourself.

The statement noted that Investigations are ongoing and the truth will surely come to light and monies belonging to the generality of Nigerians will be recovered for Nigerians.

‘’Let me add that these revelations are not new, they were first made during an investigative hearing of the House of representative committee on local content. Again the records are there and you are welcome to verify these facts.

‘’The Minister has never been part of any budgeting process of any parastatal under the Ministry, you are welcomed to visit these agencies to verify for yourself.

‘’Finally, the Minister’s office is run with a budget superintended by the permanent secretary and so one will wonder, how the Minister will ask another entity to make provisions for the budget of his Office. The Minister has an impeccable record from his time as Minister of Agric and will continue to stand for the truth.

The Minister and Indeed the Chairman of the Governing Council of the NCDMB will not abdicate his responsibility to please anyone. He has a responsibility to ensure that, that which belongs to Nigerians is judiciously used for Nigerians

‘’I have had course to read Mr Wabote’s release and every one can see that he is still nursing the wounds of being replaced even after spending seven years at the Board. At best, this is a clear case of when you fight corruption, corruption will fight back.

It would be recalled that the Minister at at an event in vowed to recoup alleged investments worth over $500m made by the Nigerian Content Monitoring and Development Board (NCDMB).

However, The erstwhile Executive Secretary of the NCDMB, Engr.Simbi Wabote had earlier debunked the Minister’s statement describing it as reckless.

Wabote challenged the Minister to visit the sites of the projects the agency invested in while accusing the Minister of playing politics.

“The HMSPR-Oil is implored to visit the construction sites to avail himself of facts on ground. He should also check the MPR archives of the strategic plan to diversify oil and gas development clusters in the Niger Delta using Bonny Island, Brass Island, Onne, Ogidigben, Ibom, etc. Perhaps, this will cure his aversion to any developmental initiative in Brass Island and the Niger Delta in general.” Wabote said.


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Techy Accountants in partnership with ACCA Host AccounTech Summit to Empower Finance Professionals

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The AccounTech Summit, hosted by The Techy Accountant in partnership with the Association of Chartered Certified Accountants (ACCA), is a groundbreaking event designed to navigate the evolving landscape of the finance industry in the digital era.

Techy accountant

Recognizing the critical need for finance professionals to adapt to technological advancements and emerging trends, this summit is a driving force for innovation, transformation, and progress.

The event is set to take place as follows:

Date: August 15th, 2024,

Location: Radisson Blu Anchorage Hotel in Lagos, Victoria Island, Nigeria.

Time: 9:00 A.M

The summit aims to celebrate achievements in the finance sector, support entrepreneurship ventures, and enlighten participants on industry challenges and opportunities. With a focus on bridging the employability gap and promoting high-quality skill development in finance, the summit aims to address the evolving landscape of the industry in the digital age.

Over the past six years, The Techy Accountant has graduated over 1000 finance professionals and trained more than 5000 individuals worldwide.

Event Highlights

The one-day event will bring together over 200 attendees, including finance professionals, entrepreneurs, policymakers, academics, and Techies.

Attendees can expect a day of immersive learning and collaboration, culminating in an award and grant ceremony. Event Highlights include keynote sessions, interactive workshops, panel discussions, and networking opportunities, all centred around the theme “Emerging Tech in Accounting & Finance – A Game Changer.”

Commenting on the summit, Mrs. Toyin Olufon, Founder of The Techy Accountant stated, “We believe in equipping finance professionals with the skills needed to thrive in a rapidly changing industry”.

Commenting on the collaboration, Mopelola Jatto, CFA, Regional Head, ACCA Nigeria remarked, “Partnering with The Techy Accountant underscores our commitment to fostering innovation and driving excellence in the finance profession. Together, we aim to equip professionals with the skills and knowledge required to thrive in the digital age.”

TO REGISTER, VISIT: https://thetechyaccountant.org/event/the-techy-accountants-account-tech-summit-2024


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