The Advertising Regulatory Council of Nigeria (ARCON) has debunked the recent report that it charges the sum of N3 million to vet material for advertisement.
Early this week, a newspaper, not Selling Point, reported that the apex advertising regulatory body was being criticized by the leadership of the Advertisers Association of Nigeria (ADVAN), for slamming N3m on advertisers for vetting of materials.
But in a statement signed by its Head of Corporate Affairs, Winfred Akpan, ARCON debunked the N3 million claim, describing the report as not only malicious but a calculated misinformation aimed at maligning ARCON reputation.
The statement: “The attention of the Advertising Regulatory Council of Nigeria (ARCON) has been drawn to a recent published interview in the Punch Newspaper headlined “Advertisers protest ARCON’S N3million Advert vetting fee
The publication is false, malicious and a misrepresentation of the vetting fee process.”
The statement continued: “This is one of the many interviews of the President of Advertisers Association of Nigeria (ADVAN) Mr. Osamede Uwubanmwen in which he misrepresented the fact, misinformed the public and maliciously maligned the reputation of ARCON as an insensitive and anti-industry developmentagency.”
The Apex body emphasizes that the vetting fee was never at anytime put at N3 Million as claimed by the authors of the report and their promoters, pointing out that the N3 million fee is a deterrent fee for organizations that produce their advertisements outside of Nigeria.
This, the council said is part of its effort to encourage and support local talents in the country.
“Vetting fee is N35,000 and not N3million as headlined and published in the Punch Newspaper. There is a deterrent fee of N3million for organizations that produce their advertisements outside Nigeria. This is not a vetting fee, it is part of ARCON’s efforts aimed at encouraging the use of local talents and production of advertisement in Nigeria as part of our industry development and growth programme.”
“Where an advertisement is produced in Nigeria, no deterrent fee is required for such advertisement. Organizations are enjoined to embrace the use of local talents and production of all advertisement, advertising and marketing communication directed or targeted at the Nigerian market in Nigeria. Information about vetting fees and associated rates are available at the ASP secretariat and our offices nationwide.” the statement further stated.