….. Soliciting For Investment In A Ponzi Scheme
The Advertising Regulatory Council of Nigeria (ARCON) has cautioned the public to beware of a fake AI-generated advertisement using the image and video of President Bola Ahmed Tinubu in soliciting for investment in a Ponzi scheme.
This was stated in a press release signed by the Director General of ARCON, Dr. Olalekan Fadolapo on Tuesday.
The Council said a preliminary investigations shows that the advertisement is computer AI-generated with the intention to mislead and defraud unsuspecting Nigerians, adding that President Bola Ahmed Tinubu did not model for, or authorize anyone to use his image in promoting any investment.
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ARCON explained further that the advertisement was neither submitted for vetting nor vetted and approved for exposure by the Advertising Stands Panel (ASP) in line with the Advertising Adverting Regulatory Council of Nigeria ACT No. 23 of 2022.
The DG explained that the purpose of the Federal Government’s policy of pre-exposure vetting is to ensure all advertisements are decent, faithful, legal, socially responsible and devoid of misinformation and unsubstantiated claims.
“This is to remind all media owners (traditional. New media, primary digital media space owners, and secondary digital media space owners) that as gatekeepers of advertising, advertisement and marketing communications in Nigeria , they are required by law to demand for, and obtain a vetting certificate of approval before the exposure of any advertisement targeted at the Nigerian market.”
He added that the violation of the requisite provisions of ACT No. 23 of 2022 will attract sanctions in accordance with the law.
“As we continue to work towards building a more ethical and consumer-protective advertising environment in Nigeria, we call on all stakeholders and the advertising community to recommit to the principles of truthful, legal, decent, and responsible advertising in Nigeria.
For complaint, the Council disclosed that the complaint desk can be reach on 08050899900.
