“Huge advertising debt creates operational challenges for the advertising industry”

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the National Broadcasting Commission (NBC) said that the fraudulent activities of some stakeholders and the huge advertising debt have raised concerns as they have created operational challenges for the media/advertising industry.

NBC Chief Executive Mallam Balarabe Ilelah who said so when he, alongside the Registrar/Chief Executive of the Advertising Practitioners Council of Nigeria (APCON), Dr Olalekan Fadolapo paid a courtesy call on the Chairman of the Commission Economic and Financial Crimes (EFCC) Mr. Abdulrasheed Bawa at the EFCC Headquarters in Abuja, said most of the media are operationally crippled as obtaining credit under false pretenses and other fraudulent activities of some stakeholders endanger the growth of the industry.

Registrar APCON noted that EFCC’s intervention is strategic to the success of ongoing industry reforms. He further noted that such an intervention will root out financial corruption and unethical practices in the industry.

The Registrar seeks the partnership of the EFCC to provide financial security to the advertising industry against all forms of financial crime, as these hinder the growth of the advertising industry.

The EFCC Chairman reiterated the commission’s zero tolerance for corruption and financial crimes in the country, while pledging the EFCC’s commitment to supporting the advertising industry and indicated that two offices will be created in Abuja and Lagos by the Commission for Industry Intervention.

He urged the two agencies (NBC and APCON) to submit a detailed proposal on the intervention of the EFCC, including the framework and scope of the intervention.

The CEO of NBC and the Registrar of APCON thanked the EFCC Chairman for the hearing and the commitment of the Commission’s support for industry reform.

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