The Advertising Regulatory Council of Nigeria, ARCON, has released new vetting rates for digital media.
This was announced in a statement signed by the Director of Regulations, Mrs. Ijedi Iyoha. According to the statement, the new rates became effective from Tuesday, 9th May 2023.
The vetting rates for traditional Media remain the same, but normal vetting for new media with a timeline of 7 days costs N7,500, 8 hours vetting process (1 day) for 15 concepts cost N100,000 while 16 working hours (2 days) for 10 concepts costs N70,000.
“Traditional Media rates, normal vetting costs N25,000, 16 hours vetting rates for 150,000 while 8 hours vetting period is for N280, 000”.
It adds that all new media applications have a validity period of three months and must be separated from Traditional Media applications.
The advertising regulatory agency after the introduction of the new advertising law intensified efforts to regulate advertising on digital platforms to eradicate unacceptable and unethical practices capable of undermining the morality and integrity of the profession.
The regulatory body recently charged secondary digital platforms owners, skit makers, and influencers to ensure that all advertising and marketing communications materials are submitted to the Advertising Standards Panel, ASP for vetting before exposure to avoid sanctions in accordance with the law.
The directive which was announced last year was further reiterated during a stakeholder/town hall engagement between ARCON, bloggers, influencers, members of the media, and other stakeholders in February.
The Director-General of ARCON, Dr. Olalekan Fadolapo, said that the sanction of influencers putting out advertisements of any kind that will be used on social media as well as other digital platforms without pre-exposure approvals from the regulatory body became necessary following the non-compliance of the law.
He noted that most of the advertisements exposed by this group are not only unethical with unverified claims and misinformation but also in violation of the Nigerian Code of Advertising Practice.