Business
The Travesty of ARCON Regulation
The Travesty of ARCON Regulation
The journey of the most turbulent and divisive times in the Nigerian Marketing Communications Industry started in 2021 with the launch of the Advertising Industry Standard of Practice (AISOP) by the Advertising Practitioners Council of Nigeria (APCON), now The Advertising Regulatory Council of Nigeria (ARCON). APCON had disclosed that AISOP will provide minimum standard in terms of commercial activities of agencies, advertisers, media houses, advertising services providers and stakeholders, in matters relating to the business of advertising and related areas of marketing communications in Nigeria.
However, what APCON claimed to be an Industry Standard of Practice was actually a document on payment and engagement terms, which sought to unconstitutionally regulate contractual relations between private entities (Advertisers and their agencies). ADVAN being a body founded to provide an organised forum for advertisers to express their views and influence developmental changes in Nigerian marketing communications scene, had expressed its concerns about AISOP, particularly its unconstitutional attempt to infringe on the rights of private entities to determine their contractual terms.
It is worthy to note that while the Leadership of APCON has claimed that it invited all critical stakeholders to deliberate on the AISOP, the truth is that the ADVAN has clearly stated on several occasions, both in private with the Registrar of APCON Dr Lekan Fadolapo, and in many public fora, that not a single contribution presented by ADVAN was included in the AISOP.
In 2022, a new APCON law was publicized which changed the name of APCON to the Advertising Regulatory Council of Nigeria (ARCON). The new law has several provisions that are clearly unconstitutional, and has caused great concern for the industry. A major item that has stood out for stakeholders is that ARCON is now allowed set up a tribunal that would hold ‘trials’ for any persons or organization that contravened the provisions of the ARCON law. This is an extremely concerning development, because Nigeria as a democratic entity has clear separation of powers between the different arms of government. A regulatory body for advertising cannot set up a tribunal with powers to hear, try, deliver judgment and sentence, as such is clearly a violation of the constitution of the nation. ARCON cannot constitutionally act as both the prosecutor and the judge in relation to matters which they have by themselves, labelled as advertising offences. The tribunal constituted by ARCON is merely an appendage of ARCON and is propagating the agenda of ARCON.
In January 2024, ARCON issued notices to law abiding organizations in Nigeria on various unclear charges of infractions, with fines up to N1 million per infraction. It is critical to note that these organizations include multinationals, Indigenous conglomerates and various levels of businesses, that serve as the back bone of the Nigerian economy. ARCON has now issued notices to the CEOs of these organizations to face the ARCON ‘Tribunal’ on various claims of infractions.
The Advertisers Association of Nigeria (ADVAN) vehemently opposes the harassment of her members (which are corporate entities that utilize advertising and marketing to promote their goods and services). These invitations to CEOs of reputable Nigerian brands, to stand ‘trial’ is a huge embarrassment and humiliation of law-abiding corporate entities, and has caused a total loss of trust for ARCON as an institution. The harassment and threats of criminal trials to CEOs of both local and multi-nationals is antithetical to the reforms being proposed by the Federal Government through the Presidential Enabling Business Environment Council on Ease of Doing Business (PEBEC), and the need to remove all forms of bottlenecks in driving the Nigerian economy.
ADVAN members hereby speak unequivocally against this travesty called ARCON Regulation, as a continuance of this line of action will sabotage all forms of viable activities in the industry. Regulation should be instrumental to an enabling environment where stakeholders can count on fair, clearly articulated guidelines for business activities, and ADVAN members are very supportive of all fair regulations, which enable equitable business activities.
Some critical questions to ARCON include:
What are the clearly articulated guidelines for digital advertising, in view of the fact that digital advertising cannot be regulated as traditional advertising?
What constitutes online advertising? is it paid communication, is it all and any posts on corporate social media pages and websites? Do all these fall under the same category and payment structures?
Can a post on a company’s website or social media page that is not paid for, be seen as advertisement?
What has been the engagement process to stakeholders on ARCONs regulation of online advertising?
Regulation cannot be ambiguous or selective in its applications, it should be clearly defined with stakeholders continuously engaged in a quest for seamless implementation.
Nigeria is currently bowed under one of the most turbulent economic conditions. The position of regulatory institutions at these dire times should be one of research and benchmarking for relevant policies, and consistent stakeholder engagement towards viable economic solutions and growth.
It is time for ARCON to pull the reins on its regime of arbitrary policy initiatives, that is pushing a once buoyant and collaborative industry into chaos, and embark on critical stakeholder dialogue and engagement to foster renewed hope and support for the industry.
Nigeria’s Inflation Drops to 15.10% as NBS Reports Deflationary Trend
Nigeria’s headline inflation rate declined to 15.10 per cent in January 2026, marking a significant drop from 27.61 per cent recorded in January 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics.
The report also showed that month-on-month inflation recorded a deflationary trend of –2.88 per cent, representing a 3.42 percentage-point decrease compared to December 2025. Analysts say the development signals easing price pressures across key sectors of the economy.
Food inflation stood at 8.89 per cent year-on-year, down from 29.63 per cent in January 2025. On a month-on-month basis, food prices declined by 6.02 per cent, reflecting lower costs in several staple commodities.
The data suggests a sustained downward trajectory in inflation over the past 12 months, pointing to improving macroeconomic stability.
The administration of President Bola Ahmed Tinubu has consistently attributed recent economic adjustments to ongoing fiscal and monetary reforms aimed at stabilising prices, boosting agricultural output, and strengthening domestic supply chains.
Economic analysts note that while the latest figures indicate progress, sustaining the downward trend will depend on continued policy discipline, exchange rate stability, and improvements in food production and distribution.
The January report provides one of the clearest indications yet that inflationary pressures, which surged in early 2025, may be moderating.
Nigeria’s headline inflation rate declined to 15.10 per cent in January 2026, marking a significant drop from 27.61 per cent recorded in January 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics.
The report also showed that month-on-month inflation recorded a deflationary trend of –2.88 per cent, representing a 3.42 percentage-point decrease compared to December 2025. Analysts say the development signals easing price pressures across key sectors of the economy.
Food inflation stood at 8.89 per cent year-on-year, down from 29.63 per cent in January 2025. On a month-on-month basis, food prices declined by 6.02 per cent, reflecting lower costs in several staple commodities.
The data suggests a sustained downward trajectory in inflation over the past 12 months, pointing to improving macroeconomic stability.
The administration of President Bola Ahmed Tinubu has consistently attributed recent economic adjustments to ongoing fiscal and monetary reforms aimed at stabilising prices, boosting agricultural output, and strengthening domestic supply chains.
Economic analysts note that while the latest figures indicate progress, sustaining the downward trend will depend on continued policy discipline, exchange rate stability, and improvements in food production and distribution.
The January report provides one of the clearest indications yet that inflationary pressures, which surged in early 2025, may be moderating.
Alpha Morgan to Host 19th Economic Review Webinar
In an economy shaped by constant shifts, the edge often belongs to those with the right information.
On Wednesday, February 25, 2026, Alpha Morgan Bank will host the 19th edition of its Economic Review Webinar, a high-level thought leadership session designed to equip businesses, investors, and individuals with timely financial and economic insight.
The session, which will hold live on Zoom at 10:00am WAT and will feature economist Bismarck Rewane, who will examine the key signals influencing Nigeria’s economic direction in 2026, including policy trends, market movements, and global developments shaping the local landscape.
With a consistent track record of delivering clarity in uncertain times, the Alpha Morgan Economic Review continues to provide practical context for decision-making in a dynamic environment.
Registration for the 19th Alpha Morgan Economic Review is free and can be completed via https://bit.ly/registeramerseries19
It is a bi-monthly platform that is open to the public and is held virtually.
Visit www.alphamorganbank to know more.
GTBank Launches Quick Airtime Loan at 2.95%
Guaranty Trust Bank Ltd (GTBank), the flagship banking franchise of GTCO Plc, Africa’s leading financial services group, today announced the launch of Quick Airtime Loan, an innovative digital solution that gives customers instant access to airtime when they run out of call credit and have limited funds in their bank accounts, ensuring customers can stay connected when it matters most.
In today’s always-on world, running out of airtime is more than a minor inconvenience. It can mean missed opportunities, disrupted plans, and lost connections, often at the very moment when funds are tight, and options are limited. Quick Airtime Loan was created to solve this problem, offering customers instant access to airtime on credit, directly from their bank. With Quick Airtime Loan, eligible GTBank customers can access from ₦100 and up to ₦10,000 by dialing *737*90#. Available across all major mobile networks in Nigeria, the service will soon expand to include data loans, further strengthening its proposition as a reliable on-demand platform.
For years, the airtime credit market has been dominated by Telcos, where charges for this service are at 15%. GTBank is now changing the narrative by offering a customer-centric, bank-led digital alternative priced at 2.95%. Built on transparency, convenience and affordability, Quick Airtime Loan has the potential to broaden access to airtime, deliver meaningful cost savings for millions of Nigerians, and redefine how financial services show up in everyday life, not just in banking moments.
Commenting on the product launch, Miriam Olusanya, Managing Director of Guaranty Trust Bank Ltd, said: “Quick Airtime Loan reflects GTBank’s continued focus on delivering digital solutions that are relevant, accessible, and built around real customer needs. The solution underscores the power of a connected financial ecosystem, combining GTBank’s digital reach and lending expertise with the capabilities of HabariPay to deliver a smooth, end-to-end experience. By leveraging unique strengths across the Group, we are able to accelerate innovation, strengthen execution, and deliver a more integrated customer experience across all our service channels.”
Importantly, Quick Airtime Loan highlights GTCO’s evolution as a fully diversified financial services group. Leveraging HabariPay’s Squad, the solution reinforces the Group’s ecosystem proposition by bringing together banking, payment technology, and digital channels to deliver intuitive, one-stop experiences for customers.
With this new product launch, Guaranty Trust Bank is extending its legacy of pioneering digital-first solutions that have redefined customer access to financial services across the industry, building on the proven strength of its widely adopted QuickCredit offering and the convenience of the Bank’s iconic *737# USSD Banking platform.
About Guaranty Trust Bank
Guaranty Trust Bank (GTBank) is the flagship banking franchise of GTCO Plc, a leading financial services group with a strong presence across Africa and the United Kingdom. The Bank is widely recognized for its leadership in digital banking, customer experience, and innovative financial solutions that deliver value to individuals, businesses, and communities.
About HabariPay
HabariPay is the payments fintech subsidiary of GTCO Plc, focused on enabling fast, secure, and accessible digital payments for individuals and businesses. By integrating payments and digital technology, HabariPay supports innovative services that make everyday financial interactions simpler and more seamless.
Enquiries:
GTCO
Group Corporate Communication
[email protected]
+234-1-2715227
www.gtcoplc.com
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