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ARCON Begins Clampdown on Firms over Digital Advertisements

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Advertising Regulatory Council of Nigeria (ARCON), has warned players in the digital media space that further contravention of the newly promulgated ARCON Act will attract severe sanctions ranging from various fines to one-year imprisonment of relevant officials.

ARCON Begins Clampdown on Firms over Digital Advertisements

Olalekan Fadolapo, director-general, ARCON, stated this during an interactive session with digital agencies, bloggers and content creators.

Fadolapo said ARCON, which is backed by the Ministry of Information and Culture and the National Assembly, would begin rolling out sanctions to erring advertising practitioners, effective March 1, 2022.

According to him, sanctions will cut across primary digital space owners – big techs, including Meta, Google, Twitter, among others, down to secondary digital space owners, which comprises content creators, skitmakers and influencers responsible for marketing communication on these platforms.

Fadolapo reiterated that ARCON does not seek to regulate social media and clamp down on free speech, but to ensure that promotional content communicated via the digital media conforms to standards as prescribed by the ARCON law.

He said, “As we are aware, recently, the law setting up the agency was changed. The APCON law was repealed. The ARCON law was enacted. During the enactment of the ARCON law, there was a review of the practice of advertising.

“In the marketing communication architecture in Nigeria, as we are aware, there are changes that have happened in the industry in terms of business of advertising and the practice of advertising. The digital space is playing a major role in the business of advertising. Business is moving from the traditional space to the digital media space. We are empowered by the law to regulate advertising, advertisement and marketing communication in all its ramifications.”

On his part, Charles Odenigbo, council’s lawyer, while explaining the implications of the provision of the ARCON Act, warned advertisers in the digital media space that ignorance of the law would not serve as an excuse or absolve persons found wanting of their culpabilities.

He noted that all advertising messages on the digital media must conform to the four cardinal points of legality, decency, truthfulness and honesty.

He said, “Any skit maker, on-air personality, content creator, brand owner — whatever name you are called, the moment you descend into the arena of marketing communication, advertising, and advertisement, the new ARCON moves into operation, whether you are aware or not.”

Odenigbo further noted that all advertisers in the digital media space are now required by the law to forward all advertising messages to the council’s Advertising Standards panel for vetting before exposure or publication.

He added that any advertising agency, which creates and/or places for publication or exposure of an advertisement without the ASP Certificate of Approval shall be liable to a minimum penalty of N500,000.

He said, “According to the vetting code, you will be fined N500,000 or you will go to jail for a term of one year. When they jail you, it means that you are no longer qualified to contest for certain positions in Nigeria again.”

In October 2022, ARCON  filed a suit against Meta Platforms Incorporated (owners of Facebook, Instagram and WhatsApp platforms) and its agent AT3 Resources Limited at the Federal High Court, Abuja Judicial Division.

The apex regulatory body for Nigeria’s advertising ecosystem, in the suit, sought a declaration among others that the continued publication and exposure of various advertisements directed at the Nigerian market through Facebook and Instagram platforms by Meta Platforms Incorporated without ensuring the same is vetted and approved before exposure, is illegal, unlawful and a violation of the extant advertising law in Nigeria.

ARCON demanded N30billion sanction for alleged violation of the advertising laws and for loss of revenue as a result of Meta Incorporated’s continued exposure of unapproved adverts on its platforms.

While speaking exclusively with our correspondent on the progress of the suit, the ARCON DG said the case had been adjourned to sometime in March 2023.

He said, “The case is in court. We have had the first hearing. The case has been adjourned to sometime in March.”

 

 


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Stella Ikwuegbu, Nollywood Actress is Dead

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Stella Ikwuegbu, veteran Nollywood actress is dead.

Stella Ikwuegbu, Nollywood Actress is Dead

Mrs Stella Ikwuegbu

Stanley Nwoko better known as Stanley Ontop, movie producer, made known this known on Sunday by via his Instagram page.

Stanley Ontop, revealed that the actress passed away today, Sunday, June 16th, after battling with leg cancer.

He wrote: “Nollywood actress and veteran Mrs Stella Ikwuegbu is dead. The veteran actress left this world today after battling with leg cancer. Rest well, Madam Stella. Nollywood again. It’s well.”

The late actress began her career in 1990, appearing in numerous films such as ‘Spoiler,’ ‘Ukwa,’ ‘Sound of Love,’ ‘Holy Man,’ ‘Two Hearts,’ ‘Heart of Stone,’ and ‘Madam Koikoi,’ among others.

Hailing from Enugu, she was not only an actress but also a businesswoman.

A graduate of the Institute of Management and Technology (IMT) in Enugu State, she launched her restaurant, ‘The Film Bar,’ on August 1.

The actress’ death comes barely five days after veteran Yoruba actor Dayo Adewunmi, aka Sule Suebebe, died at 68.

 


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MoneyMaster to Showcase Mobile Wallet @ Ojude Oba Festival

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As the ancient city of Ijebu ode gets set to host another Ojude Oba festival, Nigeria’s leading payment service bank, Moneymaster Payment Service Bank Limited (MMPSB) has concluded arrangements to be part of the annual event where the indigenes of Ijebuland will be onboarded to the bank’s multipurpose mobile wallet.

The Ojude Oba typically holds on the third day of the Eid-El-Kabir whereby different cultural age groups put up a spectacular parade to pay homage to the Royal Majesty, the Awujale of Ijebualand.

Preparatory to the event, Moneymaster, had embarked on month-long market activation, across Ijebuland to onboard the indigenes on to one of its digital banking platforms – mobile wallet through which customers can transfer, withdraw from an agent, buy airtime and pay utility bills.

In a statement, Moneymaster opined that once majority of Nigerians embrace mobile wallet which enables them to cultivate a more convenient savings habit and also make to payment with ease, the nation’s move towards a cashless economy will become a reality.

“While we rejoice with the people of Ijebuland at this time, we also want to showcase what we have in Moneymaster’s mobile wallet that can help various people to enjoy seamless banking from their phones”, the statement noted.

Licensed by the Central Bank of Nigeria in August, 2020 and insured by NDIC, Moneymaster Payment Service promotes financial inclusion in furtherance of the Nigerian financial literacy initiative driven by the Central Bank of Nigeria.

With Moneymaster, Nigerians can open mobile wallets, savings account, individual and business accounts to make payments, buy airtime, pay utility bills to over 4,000 companies.

The Bank was recently appointed a payment partner to the Ounje Eko initiative by the Lagos State government in its bid to provide discounted food items to residents of the state amidst rising cost of food items.


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President Tinubu Appoints Ayodeji Ariyo Gbeleyi as New DG Procurement Bureau

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President Bola Tinubu has approved the appointment of Mr. Ayodeji Ariyo Gbeleyi as the Director-General of the Bureau of Public Enterprises (BPE).

Ajuri Ngelale, Special Adviser to the President on Media and Publicity, in a statement released on Saturday, June 15, said the move was part of a larger reorganization effort in the public procurement system to reposition the agency for greater efficiency and transparency.

Ajuri added that the President thanked Ahmadu for his services and wished him success in his future endeavours.

The statement further noted that Gbeleyi is a renowned financial expert and award-winning chartered accountant.

It said he is a fellow of both the Institute of Chartered Accountants of Nigeria and the Chartered Institute of Taxation of Nigeria.

According to Ngelale, Gbeleyi is also an alumnus of executive programmes of the prestigious London Business School, Harvard Kennedy School of Government, and Lagos Business School.

He said Gbeleyi has over 30 years of post-qualification experience in diverse sectors, including manufacturing, fast-moving consumer goods, investment and commercial banking, project finance, telecommunications, infrastructure, and public administration.

The statement added,“He was the Board Chairman of the Federal Mortgage Bank of Nigeria and Commissioner of Finance in Lagos State from 2013 to 2015.

The President expects the new Director-General to bring his vast experience and competence to bear in this role to strengthen the agency as the national resource centre for capacity building and sustenance of reforms through the promotion of a competitive private sector-driven economy, ensuring social accountability and efficient deployment of public resources, as well as advancing effective corporate governance and fiduciary discipline in the public and private sectors.”


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