The Advertising Practitioners Council of Nigeria (APCON) and the Nigerian Broadcasting Commission (NBC) are working out strategic collaborative arrangements with the Economic and Financial Crimes Commission (EFCC) with a view towards tackling the various financial bottlenecks bedeviling the media and advertising industry in Nigeria.
Specifically, leadership of both the media and advertising regulatory agencies are presently soliciting technical support of the EFCC to sanitize and eliminate iniquitous activities of some operators in the media and advertising sectors, a trend that has crippled the growth and development of the industry.
NBC’s Director General, Balarabe Ilelah and the APCON Registrar, Dr Olalekan Fadolapo both presented the joint proposal when both leaders paid courtesy visit to the office of the Chairman of EFCC, Abdulrasheed Bawa in Abuja recently.
Speaking during the occasion, the NBC DG noted that the fraudulent activities of some stakeholders and the rising huge advertising debts had generated major concerns and created operational challenges for the industry. He disclosed that most media houses are crippled operationally due to unwholesome acts such as obtaining credit under false pretense as well as other fraudulent activities of some stakeholders which endangered growth of the industry.
The APCON Registrar, on his part, noted that the intervention of the EFCC was strategic to the success of the industry’s ongoing reforms, pointing out that such intervention will help eradicate financial corruption and unethical practices that inhibits growth of the advertising industry.
To that extent, the Registrar sought partnership of EFCC to provide financial security for the advertising industry against all forms of financial crimes that inhibits growth of the advertising industry.
Responding, the EFCC Chairman reiterated the Commission’s zero tolerance for corruption and financial crimes in the country, and pledged the commitment of EFCC in supporting the advertising industry. The EFCC boss further indicated that two Desk Offices will be created in Abuja and Lagos by the Commission for the proposed industry intervention.
He however enjoined the two agencies (NBC and APCON) to come up with a detailed proposal on the intervention of EFCC, including framework and scope of intervention.
The DG of NBC and the Registrar of APCON thanked the Chairman of EFCC for the audience and the pledge of the Commission’s support for the industry reform.
