NOTAP takes steps to automate registration process
The National Office for Technology Acquisition and Promotion (NOTAP) held a technical training in January 2020 on the process of registering agreements with the Office using the online platform. The online registration system will give Applicants control over the registration process.
NOTAP has indicated that the online registration process will not take effect until the Office has received feedback from stakeholders. They further stated that the renewal of all agreements that have been registered at the NOTAP previously will also be done manually until NOTAP is able to upload details of all the manually registered agreements.
SON shuts down 13 Steel Companies across the Nation over Standards Infractions
The Standards Organisation of Nigeria (SON) on 10 February 2020 stated that it has sealed off 13 steel factories across the nation for standards infractions.
The Chairman of the SON Task Force on Steel, Engr. Enebi Onucheyo confirmed that the affected companies located in Lagos, Ogun, Osun, Abia and Edo States were shut down until further notice following a Nationwide market surveillance carried out by the SON Task Force between November 2019 and January 2020. Mr. Enebi said the shutdown exercise followed earlier warnings to all the steel manufacturing companies on observed infractions with directives to ensure strict compliance with the requirements of the Nigeria Industrial Standard (NIS).
The Task Force Chairman disclosed that some of the companies were found to have tampered with products earlier placed on hold by SON in their facilities while an unregistered identification mark was discovered in one of the products sampled.
The SON Director General, Mr. Osita Aboloma whilst commenting on the issue reiterated the need to promote quality made-in-Nigeria products preparatory to the implementation of the African Continental Free Trade Agreement (AfCFTA).
He further stated that strict enforcement of conformity to the requirements of the Nigeria Industrial Standards would facilitate export, while also preventing dumping into Nigerian Markets.
Firm News
Aluko & Oyebode will partner with The Nigeria Stock Exchange (NSE) on its newly launched NSE Growth Board. The firm will act as a Value-Added Service Provider, providing legal services to companies seeking to list on the Growth Board
The Growth Board is designed by the NSE to offer hassle free entry criteria and less stringent listing requirements which will provide greater accessibility for growth-oriented companies, making it easier to attract capital flows and at reduced pre and post listing requirement obligations.
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