THE Advertising Practitioners Council of Nigeria (APCON) has attributed the various reforms it had rolled out in recent times, to the need to ensure the business of advertising is conducted in a conducive and professional atmosphere in Nigeria.
The Registrar/ Chief Executive of the agency, Dr. Lekan Fadolapo, who stated this at the agency’s Induction Fellows of the advertising profession, held recently in Lagos, explained that the reforms were needed to ensure the sanctity of the practice, in the country.
He added that the reforms were designed to complement the prevailing regulations, proclamations and other subsidiary instruments, established and adopted as legal frameworks for the industry.
One of such reforms, Fadolapo stated, is the latest Advertising Industry Standard of Practice (AISOP), introduced last year, with the aim of providing a minimum standard for business engagement in the industry.
“It was also introduced with the aim of improving mutual respect, eradicate unfair advantage, unethical competition and inequitable engagement terms between stakeholders in the Advertising and Marketing Communication sector of the economy,” he stated.
The APCON boss explained that the advent of the new AISOP had enabled the agency deregulate media rates, insisting that no sector of the industry would be allowed to cap or determine what media houses should charge as media advert rates, any longer.
“What is however, required of media houses is for them to give at least 30 days’ notice before implementation of a new media rate.
“It is also provided that advertisers and agencies have a duty to accord Nigeria media houses the same mutual respect they accord foreign media operating in Nigeria and all stakeholders will have to align with best practices,” he stated.
Another area Fadolapo believes the agency has been to score some point through the new AISOP is in the area of credit policy.
According to him, the new AISOP makes it mandatory for payment for media and other advertisement services to be done within 45 days, in line with best practices; adding that any payment after the stipulated deadline will now attract interest at prevailing CBN interest rate.
While urging advertisers and agencies to honour advertising and marketing communications invoice promptly, Fadolapo also called for transparency among all parties involved in a business transaction in the sector.
He added that the contentious agency engagement process, regarding pitch procedure, had also been re-defined and professionalized in the new document, as parties in pitch process must respect Nigeria’s copyright Law.
“Pitch fee would now be paid to agencies that participated in a pitch process in line with best practices while profile presentation, agency visit, meet-and-greet are made free,” he stated.
The APCON boss however stated that despite the reservations, expressed in some quarters, the agency had not recorded any violation of the new regulations, since its launch last year.
While appealing to practitioners and other stakeholders in the industry to support the ongoing reforms, aimed growing the industry, Fadolapo however expressed the agency’s determination at ensuring the regulations guiding advertising practice were strictly adhered to.
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