News
ARCON Begins Clampdown on Firms over Digital Advertisements
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.
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 The APCON law was repealed.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.”
National Bureau of Statistics (NBS) on Friday said Nigeria’s Gross Domestic Product (GDP) declined by 2.98 per cent in the first quarter (Q1) of 2024.
In its latest report, the bureau put the nation’s current growth rate at 2.98 per cent, saying the growth rate is higher than the 2.31 per cent recorded in the same quarter in 2023 but lower than the 3.46 per cent recorded in the fourth quarter (Q4) of 2023.
“Nigeria’s Gross Domestic Product (GDP) grew by 2.98% (year-on-year) in real terms in the first quarter of 2024. This growth rate is higher than the 2.31% recorded in the first quarter of 2023 and lower than the fourth quarter of 2023 growth of 3.46%,” the report read.
“The performance of the GDP in the first quarter of 2024 was driven mainly by the Services sector, which recorded a growth of 4.32% and contributed 58.04% to the aggregate GDP.
“The agriculture sector grew by 0.18%, from the growth of -0.90% recorded in the first quarter of 2023. The growth of the industry sector was 2.19%, an improvement from 0.31% recorded in the first quarter of 2023.
“In terms of share of the GDP, the services sector contributed more to the aggregate GDP in the first quarter of 2024 compared to the corresponding quarter of 2023.”
A new ongoing malware campaign that exploits the growing popularity of AI tools by disguising itself as an AI voice generator has been discovered by Kaspersky.
The malware uses GitHub to store password-protected archives as the final payload. This payload contains password and data stealers, enabling cybercriminals to steal various types of data, mine cryptocurrency, and download additional malicious software.
The Gipy malware has been active since mid-2023 and distinguishes itself by choosing AI tools as bait to spread malware. In a recent campaign observed by Kaspersky, the initial infection occurs when a user downloads a malicious file from a phishing website that imitates an AI application used to change voices.
These websites are well-crafted and appear identical to legitimate ones. Links to the malicious files are frequently placed on compromised third-party websites running WordPress.
After the user clicks the “Install” button, the installer for a legitimate application starts, but in the background, a script executes malicious activities.
During its execution, Gipy downloads and launches third-party malware from GitHub packaged in password-protected ZIP archives. Kaspersky experts have analysed over 200 of these archives. Most of the ones on GitHub contain the infamous Lumma password stealer.
However, the experts also found Apocalypse ClipBanker, a modified Corona cryptominer, and several RATs, including DCRat and RADXRat. Additionally, they discovered password stealers like RedLine and RisePro, a Golang-based stealer called Loli, and a Golang-based backdoor named TrueClient.
The cybercriminals behind Gipy do not show a particular geographical preference, targeting users worldwide. The top five affected countries are Russia, Taiwan, the US, Spain, and Germany.
“AI tools bring remarkable benefits and revolutionise our daily lives, but users must stay vigilant. Cybercriminals are leveraging the surge in AI interest to spread malware and conduct phishing attacks. AI is being used as bait for over a year now and we do not expect this trend to abate,” comments Oleg Kupreev, security expert at Kaspersky.
Afreximbank, has officially announced the launch of the CANEX Prize for Publishing in Africa, a partnership between the CANEX Book Factory and the Narrative Landscape Press Limited.
The CANEX Book Factory, a key intervention under the CANEX programme, aims to promote a vibrant literary culture across Global Africa and encourage the development of a sustainable business ecosystem in the literary sector.
CANEX was launched in 2020 by Afreximbank as a key driver for development and job creation in Africa, having recognized the relevance and opportunities provided by the creative and cultural industries.
The CANEX Book Factory will spotlight and elevate the African book value chain through a Pan-African writing workshop, an e-newsletter highlighting African literature and the prize for publishing in Africa. This will culminate in the Award Ceremony at the CANEX WKND to be held in Algiers, Algeria between 16-19 October, 2024.
A USD20,000 prize will be awarded to the publisher of the best trade book. Trade books refers to books published for a general audience, including fiction, non-fiction, and poetry and excludes textbooks and academic books. Additionally, four finalists will each receive $2,000 in prize money.
Commenting on this announcement, Mrs. Kanayo Awani, executive vice president-Intra African Trade and Export Development Bank at Afreximbank said: “We are thrilled to announce the launch of The CANEX Prize for Publishing in Africa, a pioneering initiative by Afreximbank aimed at promoting and celebrating excellence in African publishing. This prize underscores our commitment to nurturing Africa’s creative industries and supporting the vibrant literary landscape across the continent. Through the CANEX Prize, we aim to recognize and empower African authors and publishers who play a vital role in shaping our cultural identity and enriching our communities through literature in what is a multi-billion-dollar industry.”
On the importance of initiatives such as CANEX, Ms. Chimamanda Adichie, renowned writer and novelist, said: “Imagine being an African, dreaming about being a writer, surrounded by people in a room who share the same interests, it propels you, it gives you hope. I’ve always believed that there is nothing more essential to the human spirit than hope. For me, CANEX is about hope – the hope of many more African stories.”
Submissions will be judged on the quality of writing, editing and production. Priority will be given to books printed and produced on the African continent as well as to books published in indigenous African languages.
A key concession for the inaugural year (2024) is that books published in the preceding two years will be considered.
By supporting the enabling environment for various creative sectors like fashion, music, film, art, literature, gastronomy, and sport; CANEX seeks to support the advancement and expansion of the creative and cultural economy, both within Africa and the diaspora, utilizing various financial and non-financial tools and initiatives.
CANEX invites publishers in Africa to submit published trade books for the inaugural CANEX Prize for Publishing in Africa. To submit your entry, please visit: https://apo-opa.co/3WR3vgu.
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