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ARCON to Regulate Computer-Imagery in Advertising

The Nigerian Advertising Regulatory Council (ARCON) plans to regulate the use of computer-generated imagery in advertising.

Dr Olalekan Fadolapo, director general of the ARCON, disclosed this at a recent Advertising Standard Panel Stakeholders’ Forum in Lagos.
He noted that the move was aimed at promoting local content, maintaining industry integrity, and driving economic development.
According to Fadolapo, the forum discussed ethical standards and compliance with advertising laws within the industry.
He said, “The regulatory body has declared the prohibition of such materials surrounding the proliferation of computer-generated imagery in advertising. It has stressed the need for advertising agencies to provide verifiable information of Nigerian models featured in campaigns.”
He added that the intention was to ensure the protection of local talents and preserve Nigeria’s national interests.
Fadolapo emphasised the importance of stakeholders in the advertising sector acquainting themselves with the Nigerian Code of Advertising.
“This familiarity is crucial to understanding regulatory obligations, ensuring compliance, and following guidelines before submitting their materials for review,” he expounded.
He emphasised the importance of self-regulation and adherence to copyright laws within the advertising industry to foster ARCON’s commitment to creating an enabling environment for promoting ethical advertising standard practices.
He vowed that ARCON would continue to curb advertising violations and enforce regulatory measures on all digital platforms.
In her keynote address, the Chairman of the Advertising Standard Panel, Mrs Omowunmi Owodunni, stated that lack of ethics had made practitioners and stakeholders not comply with the ambits of the law.
“For our advertising industry to meet international standards, practitioners must be decent and legal in our approach,” she maintained.
Owodunni cautioned against the unauthorised proliferation of digital advertisements, emphasising that the regulatory body would take strict action against individuals and organisations engaged in such illegal activities.
“During the vetting process, third-party and independent assessments with verifiable information are necessary to support advertising claims,” she noted.
Owodunni further clarified that although the advertising code undergoes periodic reviews, creative content must adhere to legal standards, be substantiated, and be sensitive to laws.
On her part, the Director of Regulations, ARCON, Mrs Martha Onyebuchi, lamented that a lot of advert materials were full of misinformation that could not be substantiated.
She noted that practitioners would be penalised for such unethical behaviour. According to Onyebuchi, stakeholders should uphold the law and not breach it.
“ARCON is not regulating to strangle the advertising industry but to promote creativity and support local content,” Onyebuchi added.
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EFCC Arraigns Two FSDH Bank Officials Over $307k, €50k Fraud


EFCC
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AfDB Supports Francophone Africa Start-ups with €6.5M

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

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.

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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