AIC 4.0- Akanmu Calls for Agile Advertising Regulation

• Aug 6, 2026

The Academic Director of Lagos Business School's Tech-Leap Initiative, Olu Akanmu, has called on the Advertising Regulatory Council of Nigeria (ARCON) to adopt a more agile and collaborative regulatory approach capable of keeping pace with the rapid evolution of digital advertising and emerging technologies.

Delivering the keynote address at the fourth edition of the Advertising Industry Colloquium (AIC 4.0) in Lagos, Akanmu said traditional regulatory models can no longer effectively govern today's digital advertising ecosystem, where platforms, artificial intelligence, data and algorithms increasingly determine how brands engage consumers.

Speaking on the theme, "The Future of Advertising: The Role of Platforms, People and Regulation," he stressed that the next era of regulation must move beyond enforcement to become an enabler of innovation.

"We cannot use analogue practices and methods to regulate digital media. Regulation needs to be agile in tandem with the nature of digital media," he said.

According to Akanmu, regulators should embrace co-regulatory frameworks, transparent guidelines and technological adaptability by working closely with platforms, agencies, technology companies and other stakeholders rather than operating solely as enforcement bodies.

Drawing lessons from the Central Bank of Nigeria's fintech reforms, he cited the creation of the CBN's Department of Payment Systems as a model for progressive regulation.

He explained that the specialised department was established to focus on fintech regulation, recruit professionals with digital technology expertise and work collaboratively with industry players to promote innovation while safeguarding financial system stability.

"The regulatory mindset was not simply that of a policeman, but that of an enabler of digital payments and the fintech industry," he said, noting that the approach created a more competitive financial ecosystem that benefited both traditional banks and fintech companies.

Akanmu warned against allowing legacy industry players to dominate the conversation on digital regulation, arguing that established businesses often seek to preserve existing market structures at the expense of innovation.

He urged ARCON to broaden its stakeholder engagement by consulting digital-first businesses, content creators, influencers and other emerging players shaping today's advertising landscape.

According to him, ARCON's regulatory responsibility has expanded far beyond traditional advertising agencies, requiring new engagement structures that reflect the realities of the digital economy.

He proposed the establishment of a Digital Advertising and Marketing Advisory Council to strengthen collaboration between regulators and non-traditional advertising stakeholders, including creators, influencers, technology companies and platform operators.

He also recommended broadening the composition of the Advertising Standards Panel to include experts with digital marketing, technology and platform governance experience rather than relying predominantly on professionals whose expertise was developed during the analogue era.

Looking ahead, Akanmu predicted that Artificial Intelligence would become the primary operating system of advertising, enabling highly personalised campaigns powered by consumer data and predictive analytics.

He added that immersive technologies such as augmented reality, virtual reality and mixed reality would fundamentally redefine consumer experiences, while commerce and advertising would increasingly converge as promotional content becomes embedded directly within purchasing environments.

He also observed that trust would become advertising's most valuable currency, with consumers rewarding brands that demonstrate authenticity, transparency and ethical communication.

To prepare the industry for this future, Akanmu urged digital platform owners to improve transparency around advertising algorithms, collaborate with national regulators and establish mechanisms for independent audits of advertising systems.

He called on consumer advocacy groups to intensify efforts in monitoring advertising ethics, promoting media literacy and protecting vulnerable audiences from harmful or misleading digital content.

He also challenged universities and training institutions to redesign advertising and marketing curricula by incorporating Generative AI, data analytics, audience intelligence, platform economics, computational advertising, digital governance and algorithmic accountability.

For regulators, Akanmu advocated a co-regulatory model involving government, industry, platform owners, academia, consumer organisations, technology companies, civil society and relevant international institutions.

According to him, advertising has entered a new era where influence is determined less by ownership of traditional media channels and more by control of digital platforms, data, algorithms and technological infrastructure.

"The central question is no longer who creates the most compelling advertisement, but who governs the ecosystems through which advertisements are created, distributed, amplified and monetised," he said.

He warned that while the transformation presents enormous opportunities for Nigeria, it also carries significant risks if the country remains a passive consumer of global advertising technologies.

Instead, he urged stakeholders to build an advertising ecosystem that reflects Nigeria's economic ambitions, cultural identity and regulatory sovereignty.

Akanmu concluded by calling for greater collaboration among regulators, industry practitioners, scholars, governments and platform owners to ensure the future of advertising is not only technologically advanced but also ethically grounded, economically inclusive and socially beneficial.