Huge advertising debt: APCON, NBC take case to EFCC

THE apex regulatory  body in the nation’s advertising industry, the Advertising Practitioners Council of Nigeria (APCON), and the National Broadcasting Commission (NBC), have enlisted the support of the  Economic and Financial Crimes Commission (EFCC) in their quest to curb the fraudulent activities of some stakeholders, and find a lasting solution to the issue of advertising debt in the industry.

The two agencies solicited the support of the anti-graft commission in sanitizing the media/advertising industry, and eliminate  the iniquitous activities of some operators in the sector.

Speaking at the meeting, APCON Registrar, Dr. Lekan Fadolapo, stated that the intervention of the commission would go a long way in enhancing the success of the ongoing industry reforms; since it would eradicate financial corruption and unethical practices, which he argued had continued to cripple the growth of the nation’s advertising industry.

He therefore appealed to the commission to provide financial security for the advertising industry against all forms of financial crimes

In his own remarks, the  DG of NBC, Mallam Balarabe Ilelah, stated that the fraudulent activities of some stakeholders and the huge debt in the nation’s  advertising  industry had been of great concerns to the commission; since they had continued to create operational challenges for the industry.

“Most media houses are crippled operationally as obtaining credit under false pretense and other fraudulent activities of some stakeholders are endangering the growth of the industry,” he stated.

While pledging the anti-graft agency’s commitment to supporting the nation’s advertising industry, its chairman, Mr Abdulrasheed Bawa, reiterated the commission’s zero tolerance for corruption and financial crimes in the country.

He  assured the agencies of the commission’s readiness to create two desk offices in Abuja and Lagos, that would enable it intervene appropriately on advertising industry issues.

The EFCC’s boss however enjoined the two agencies to come up with a detailed proposal, including framework and scope of such intervention.