The Advertising Regulatory Council of Nigeria (ARCON) has vehemently rebutted a media report claiming a new vetting fee of 3 million Naira, clarifying that the amount in question is a deterrent fee designed to dissuade the production of advertisements outside the country. This measure is part of an initiative to bolster the development of the local advertising industry.
In an official statement signed by Winnie Akpan, the Head of Corporate Affairs, ARCON labeled the publication by Punch Newspaper as false, malicious, and a misrepresentation of the vetting fee process. The agency emphasized that when an advertisement is produced within Nigeria, no deterrent fee is applicable.
The statement reads, “This is one of the many interviews of the President of Advertisers Association of Nigeria (ADVAN), Mr. Osamede Uwubanmwen, in which he misrepresented the facts, misinformed the public, and maliciously maligned the reputation of ARCON as an insensitive and anti-industry development agency.
“Vetting fee is N35,000 and not N3million as headlined and published in the Punch Newspaper” it stressed.
ARCON urged organizations to embrace the use of local talents and advocated for the production of all advertisements, advertising, and marketing communication targeting the Nigerian market to be carried out within Nigeria.
ADVAN had expressed discontent with the new ARCON law, deeming it detrimental to the business growth of its members. The association stated that certain sections of the law are unconstitutional, leading to a legal suit against the apex advertising regulatory agency.
