The Association of Advertising Agencies of Nigeria (AAAN) has set up an enforcement committee for the Advertising Industry Standard of Practice (AISOP). The practice which ensures guidelines in the practice of marketing communication business in Nigeria was recently made public by the Advertising Practitioners Council of Nigeria (APCON).
The President of AAAN, Steve Babaeko who strongly believes in the AISOP said at the just concluded Lagos Ideas Festival awards LAIF, held last weekend in Lagos that the committee is to ensure strict adherence to the practice in the industry and “We will sanction members who violet the code”.
According to him, “It is important that we adhere strictly to the practice” as it is for the benefit of the industry.
AISOP provides minimum standardized commercial terms for agencies, advertisers, media houses, advertising services providers and stakeholders, in matters relating to the business of advertising and marketing communications in Nigeria.
The document unveiled in Lagos recently seeks to improve mutual respect, eradicate unfair advantage, unethical competition, and inequitable policies between relevant stakeholders in the advertising and marketing communications industry in Nigeria.
Some of the provisions of the Standard of Practice states that all contracts between practitioners, either clients and agencies or between agencies must be formal and in writing before APCON can intervene in any matter. It spelt out a minimum pitch fee of N1m which must be paid by clients who invited agencies for a business pitch. Alternatively, clients can invite agencies for credential presentations.
The AISOP also states a minimum payment term of 45 days for the advertising business. Any payment made outside the stipulated 45 days will attract interest payment at the prevailing Central Bank of Nigeria, CBN rate.
The document also allowed media houses to increase their rates unilaterally but they need to give 30 days’ notice.
Presenting the Standard of Practice document, the Registrar of Advertising Practitioners Council of Nigeria, APCON, Olalekan Fadolapo warned that there is a penalty on non-adherence to the provisions of the document.
The Registrar said the document followed the approval of the Minister of Information and Culture, Lai Mohammed for APCON to develop an equitable and acceptable framework in line with the Federal Government’s reformative plans aimed at accelerating the pace of economic recovery post-pandemic era, enhance gainful employment, and overhaul the Institutional and regulatory framework for the Nigerian Advertising Industry in line with best practices.
On Laif award, Steve Babaeko commended the organising committee headed by Lanre Adisa, CEO of Noah’s Ark for a thorough job.