In a decisive effort to protect Nigerians from falling victim to fraudulent and misleading advertisements, the federal government has announced new regulations for digital and social media advertising in the country.
Moving forward, social media influencers, content creators, and digital advertisers will be required to obtain official clearance before publishing any advert content on platforms like Facebook, Instagram, YouTube, and others. This approval process will be overseen by the Advertising Regulatory Council of Nigeria (ARCON).
The directive was made public through a statement issued on Monday by ARCON’s Director-General, Olalekan Fadolapo. He expressed concern over the growing spread of deceptive adverts across social media platforms and emphasized the government’s determination to put an end to this harmful trend.
According to Fadolapo, the government will no longer “watch with folded hands while ethics and professionalism are being compromised at the expense of Nigerians.” He cited the recent collapse of CBEX, an alleged investment platform, as a glaring example of the dangers posed by unchecked advertising. The scheme reportedly ensnared around 600,000 Nigerians, resulting in severe financial losses.
CBEX Collapse: Investors Count Their Losses
CBEX had promoted itself as a high-yield investment platform, claiming to double investors’ money within 30 days. Its widespread reach was achieved through digital advertisements, referrals, and social media promotions. The scheme eventually crumbled, leaving trillions of naira trapped and prompting widespread outrage on social media. The scandal attracted the attention of both the National Assembly and regulatory bodies such as the Securities and Exchange Commission (SEC) and the Economic and Financial Crimes Commission (EFCC).
In reaction to this incident, ARCON stated: “Such tragedies show the importance of vetting advertising materials for honesty, transparency, and compliance with ethical standards before dissemination.”
Nigerians Urged To Report Misleading Adverts
Fadolapo has also appealed to Nigerians — particularly stakeholders in the advertising industry — to ensure that only properly vetted and approved advertisements are allowed on all media platforms. He warned: “Advertisements that misrepresent facts, omit critical information, or are designed to exploit vulnerable audiences will not be tolerated.”
Clampdown On Social Media Ads Begins
Reiterating ARCON’s authority, Fadolapo confirmed that advertisements shared on social media platforms equally fall under the council’s regulatory oversight. Recent court rulings have affirmed that ARCON’s jurisdiction extends to all media platforms, including digital spaces.
To enforce the new rules, ARCON has established a compliance task force responsible for monitoring online advertisements and ensuring adherence to approved guidelines. The council also called on Nigerians to report any suspicious, misleading, or deceptive adverts they encounter.
