Will the new AISOP bring the much-needed relief to Nigeria’s IMC?

THE public presentation of the new Advertising Industry Standard of Practice (AISOP), recently by the Advertising Practitioners Council of Nigeria (APCON), no doubt, marked another historic moment in the annals of advertising in the country.

Despite having a code, guiding advertising practice in the country,  before the advent the new AISOP, not a few stakeholders in the industry, believed  a set of new rules had become, desirable for the industry to be in tune with global trends.

Presenting the new rules of engagement to stakeholders in Lagos, recently,  the Registrar/ Chief Executive, APCON, Dr Lekan Fadolapo explained that the document is designed to further enhance  advertising in Nigeria; since it takes care of some grey areas, hitherto left unattended to, in the previous codes.

Interestingly, one of such grey areas is the controversial issue of pitch fee in the industry. The APCON boss frowned at a situation where agencies are invited to pitch for a job, and at the end of the day, neither get the job, nor get paid a pitch fee.

“From now on, we are saying that  while  clients  are free to invite  as many agencies as they want for their jobs, they should also be ready to pay a minimum of N1 million  as pitch fee for participating agencies, that failed to get the job,” Fadolapo stated.

Another highlight of AISOP is the insistence that parties involved in any advertising and marketing communications must establish a written contract, duly signed by all the parties involved.

Of interest, also, is another highlight which gives the media the freedom to increase its rates anytime they deem fit, as long as a 30-day notice is given before its implementation.

Also with the new AISOP, the days of owing agencies for eternity seem to be over. The apex regulatory agency is giving a maximum of 45 days for clients to settle their agencies, adding that any debt that exceeds that period will attract an interest that would be determined by the prevailing CBN’s approved interest rate.

“Payment for advertising services shall be made within 30 days; and on no account shall payment be made later than 45 days from receipt of invoice. Where invoice is received and payment is not made within the 45 days, interest shall accrue on the sum at the prevailing Central Bank of Nigeria’s approved interest rate,” the new law says.

The apex regulatory body in the industry, this time around, seems determined to go the whole hog, in enforcing the new set of laws, which take effect from October 6, this year.

For instance, while reacting to the insinuation that the new rules of engagement might not enjoy the support of all sectoral groups, as evidenced in the absence of ADVAN, a critical stakeholder in the industry, Fadolapo insisted that the document had the input of all at the preparatory stages.

“The fact that some of the sectoral groups are absent at the public presentation does not mean it does not have their support.  AISOP is a way of ensuring that  practtioners play by the rule, and it is in the best interest of every one to embrace it,” he stated.

The APCON boss also appealed to practitioners on the need to self-regulate, to prevent APCON from wielding the big stick on erring practitioners at every point in time.

Expressing his committee’s appreciation to APCON  for the opportunity to serve, its chairman, Mr. Funmi Onabolu, expressed the hope that AISOP would go a long way in ensuring that stakeholders are no longer subjected to unfair business practices.

“What we’ve put in here is a win-win for all involved, if truly we are committed to doing things the right way,” he added.

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