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Nigerian Government To Crackdown on Misleading Social Media Adverts After CBEX scandal
The Nigerian federal government has announced a new directive requiring content creators and social media influencers to obtain approval from the Advertising Regulatory Council of Nigeria (ARCON) before running advertisements on platforms like Facebook, Instagram, and YouTube.
This move aims to protect Nigerians from misleading and potentially fraudulent advertisements that have become prevalent on social media. The directive follows numerous reports of Nigerians being lured into dubious schemes through advertisements promoted by influencers.
ARCON issued a statement on Monday, expressing concern over the widespread unethical and unprofessional advertising practices online that have harmed citizens. The ARCON Director-General, Olalekan Fadolapo, specifically referenced the recent collapse of CBEX, a supposed investment platform that allegedly defrauded approximately 600,000 Nigerians after attracting them through digital ads and influencer endorsements. This incident, which trapped trillions of naira, served as a stark example of the damaging consequences of deceptive advertising.
Under the new regulation, social media influencers and content creators will be obligated to submit their advertisement content to ARCON for review and approval before it can be published. The government has stated it will no longer stand by while misleading ads compromise ethics and professionalism at the expense of the Nigerian public.
This policy shift signifies a stricter regulatory environment for online advertising in Nigeria, with the government taking a proactive stance to safeguard citizens from deceptive schemes and hold influencers accountable for the content they promote.
Source: legit.ng
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