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It is a truism that the greatest heritage of a nation remains the creativity of its citizens. Therefore, one of the primary functions of law is to protect the ingenuity, resourcefulness, and innovation of the citizenry. It is in line with this fact that Lord Belgore J. in Oladipo Yemitan v. The Daily Times Nigeria Ltd submitted that "the right of a man to that which he had originally made is an incorporeal right and must be protected." This research examines the legal background for the protection of Traditional Knowledge under the Nigerian Intellectual property regime, amongst other international treaties and agreements giving support for its firm protection. It examined the problems faced in actualizing its protection under the current intellectual property regimes; which revolves around the Non-recognition of the contributions of indigenous communities, The limits of defensive mechanisms, Weak IP structure and system, and a whole lot of other miscellaneous problems. However, if the creations and rights of Indigenous people must be saved from misappropriation and bio-piracy, government must provide adequate enforcement facilities, standard IP laws, adequate training, etc.