In Nigeria, the regulation of advertising is comprehensive and coordinated mainly by the Advertising Regulatory Council of Nigeria (ARCON), with input from other regulatory bodies for specific industries. Here's an overview of the key regulations:
Regulatory Framework: The primary legislation is the ARCON Act 2022, which along with the Nigerian Code of Advertising Practice, guides all aspects of advertising, from creation to dissemination .
Industry Specific Regulations: Various industries have additional guidelines, particularly:
Pharmaceuticals and Food: Managed by the National Agency for Food and Drug Administration and Control (NAFDAC), which requires pre-approval of advertising materials.
Financial Services: The Central Bank of Nigeria (CBN) regulates advertising by financial institutions, ensuring they adhere to the financial laws.
Insurance: The National Insurance Commission (NAICOM) oversees advertising in the insurance sector, requiring specific approvals for advertisements .
Content Restrictions: Misleading, deceptive advertisements, or those involving unfair competition are prohibited. This includes regulations against unsubstantiated claims and the requirement for all claims to be empirically provable.
Enforcement and Penalties: ARCON enforces these regulations through its Advertising Standards Panel, which reviews and approves advertisements before they go live. Non-compliance can result in hefty fines or other penalties.
