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Home Blog Page 4849

The Legal Framework on Advertising in Nigeria

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It goes without saying that one of the most important aspects of business is generating demand through letting your target market know about your product or service in the first place.

This is the overall objective of advertising, which is the usually paid use of mass communication tools to communicate with the target users of a product or service for the purpose of brand awareness, letting potential customers/clients know about a product or service specifications(customer information), brand promotion,and generally influencing demand .

This write-up will be dealing with the legal aspects of advertising in Nigeria, with a focus on :-

– The Regulatory agencies and Legal Framework governing advertising in Nigeria.

– The principles governing Advertising Practice in Nigeria.

– The prominent legal provisions on the process of putting out adverts.

– The Regulatory requirements for putting out advertisements in Nigeria.

– The extent of applicability for advertising laws and regulations in Nigeria.

What is the Legal and Regulatory Framework governing advertising in Nigeria?

Advertising in Nigeria is governed by the following laws :-

– The Advertising Practitioners Registration Act.

– The Advertisement Practitioners Council of Nigeria Vetting Guidelines (or “The Vetting Guidelines”).

– The Nigerian Code of Advertising Practice, Sales Promotion & Other Rights/Restrictions on Practice (or “The Advertising Code”).

– The Standards Organization of Nigeria Act .

– The Federal Competition and Consumer Protection Commission (FCCPC) Act.

Compliance with Advertising laws and regulations as well as the vetting of Advertising concepts in Nigeria is administered by the Advertising Practitioners Council of Nigeria (APCON) and the Advertising Standards Panel (ASP). 

What are the basic principles of Advertising Practice in Nigeria?

The regulatory principles on which advertising in Nigeria are anchored are :-

  1. Legality (No Advertisement shall be used to promote objects that are illegal/in violation of any law in force in Nigeria or contrary to public policy or morality. Advertisements are to procure SON certification where necessary).
  1. Truth (No Advertisement shall make any representations that are false, not yet subjected to objective testing and confirmation, or evasive concerning product and service pricing). 

What are the requirements for getting an advertisement concept approved by APCON for broadcasting ?

This will first require making an application to the Registrar of  APCON through an APCON-registered practitioner as well as applications to relevant Regulators for industry-specific advertisements e.g. Banking or Financial service advertisements will require prior vetting by the Central Bank of Nigeria.

This APCON application will be supported by :-

– a duly filled and signed ASP form by an Advertising Practitioner not below an Associate men we stating his APCON registration code;

– a letter of authorization to advertise the product or service from the client (advertising business) signed by an APCON-accredited practitioner;

– a copy of the Advertisement concept which must be approved;

– a minimum of 12 unit samples of the product to be advertised or service demonstrations where necessary;

– a NAFDAC certificate where necessary;

Is the use of foreign models allowed in Advertisements in Nigeria?

No it is not. All models in Nigerian adverts are to be strictly Nigerians except where the Advertisement concept requires the use of foreigners as models.

Even then, such Advertisement concepts will require a fee of 500 Thousand Naira payable to the ASP for each version of the advertising concept.

What will happen if i choose to place my advertisment without APCON/ASP approval?

Placing or broadcasting an advertisement without ASP approval will incur a risk of a minimum 500 Thousand Naira penalty for both the Advertising Agency and the Advertiser.

Can an ASP/APCON approval be revoked?

Yes, it can. This can occur if a condition upon which the Advertising approval was granted by the ASP has been violated by the Advertiser.

How far does the jurisdiction of APCON/ASP go in Nigeria?

The APCON has jurisdiction over all advertisement media in Nigeria, including Internet advertisements.

What are the requirements for approving Online advertisements?

Online adverts require a clearance fee of 25 Thousand Naira per Advertisement concept, with separate payments required where the same advertisement is released in different versions with different models and different languages.

The enforceability and legality of regulations governing online advertisements however remains a controversial topic.

Conclusion :- Advertising in Nigeria carries with it a wide framework which requires a lot of guidance in terms of Legal advice and representation.

Here’s How NFTs Are Contributing In A Cultural Shift: Big Eyes Coin, Decentraland and The Sandbox

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Imagine this: you made a lot of money in life and are satisfied with your monetary accomplishments. But according to Maslow’s hierarchy of needs, the next stage is — esteem needs. To fulfil that, you buy an expensive Van Gogh (not the Starry Night), and you display it in your living room. This will not only nourish your esteem needs, but you will also have an increased sense of status quo. The idea of ownership is deeply appealing to humans, and a painting from the Dutch artist would contribute to that, the same way NFTs are working on Web 3.

A generation of kids grew up trading Pokémon cards, and raising investment dollars to dream up NFTs of all kinds. From irreplaceable toilet paper to virtual food you can never eat to fantasy lands on the Metaverse, NFTs rule where our imagination takes us.

Big Eyes Coin (BIG), Decentraland (MANA) and The Sandbox (SAND) are such imaginative and disruptive NFT tokens.

The Sandbox: Crypto Games And NFTs

A decentralised gaming platform, The Sandbox (SAND), is bringing a cultural shift in the gaming world. Users can easily trade and build digital assets on its platform that operates on the Metaverse ecosystem.

The users have complete autonomy over the digital assets that they have earned in the games and can be easily traded.

Earlier, gamers were fascinated by Playstation and XBOX. But blockchain technology is so limitless that it has provided the option of ‘play-2-earn’ games where gamers can earn in the form of cryptocurrencies. No more playing for leisure — this is business!

Decentraland: Virtual Land And Concerts

It is so difficult to find a house these days, let alone buy land or an apartment for investment purposes. The renting crisis has engulfed most metropolitan cities around the world. In such times, Decentraland (MANA) provides a breather. This token allows its users to buy and sell virtual land, attend virtual conferences and even virtual concerts.

With real-estate prices touching the sky, MANA can be your next investment. It is backed by robust and decentralised blockchain technology that provides security and faster transaction speed.

Its official website reads — Create, explore and trade in the first-ever virtual world created by its users. Right on the money!

Big Eyes Coin: Sushi Crew And Oceans

Big Eyes Coin (BIG) is a full-on community token with the express goal of shifting wealth into the DeFi ecosystem and protecting an important part of the world’s ecosystem. A new token on the block, Big Eyes Coin (BIG), is making headlines for raising more than $3.7M in its presale. Having entered stage 3, the token has big plans for the future in the NFT space.

NFTs were mostly ruled by the bored apes from the Bored Ape Yacht Club (BAYC) collection. However, that is changing now. Looking at the crypto crash earlier this year, trends are changing in the NFT space. ApeCoin (APE), the native token in the BAYC ecosystem, has seen a significant loss in value.

Big Eyes Coin (BIG) is entering the market at the right time when the war wounds from the crypto crash have healed, and investors are looking for new and promising NFT projects.

The token will launch 10 NFT projects with its mascot, the cute-eyed cat, going to sea. The cat is on a mission to save the oceans and sea life. The collection will be called Big Eyes Coins NFT Sushi Crew.

Owning these digital assets will allow its customers to attend several NFT events, and they can also win rewards by participating in competitions. The cute-eyed tokens will certainly shift the way people look at NFTs.

Big Eyes Coin is also in the process of making the second donation to ocean preservation projects — amounting to 5% of wallet profits.

The Bottom Line

If Van Gogh were alive today, he would have definitely shilled some NFTs. The bottom line is that NFTs and blockchain technology are gradually taking over the art world and the gaming industry and might soon enter the film industry as well. Netflix has already started issuing NFTs to analyse the engagement data.

Click on the links below to be a part of the Big Eyes Coin (BIG) community.

 

Presale: https://buy.bigeyes.space/

Website: https://bigeyes.space/

Telegram: https://t.me/BIGEYESOFFICIAL

Moshnake, Shiba Inu, And PancakeSwap: 3 Cryptocurrencies That Could Boom In The Next 2 Years

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Cryptocurrencies like Moshnake (MSH) can deliver enormous gains to crypto buyers, but can they represent solid investment decisions?

For decades, stocks have been the most consistent asset class for wealth building. However, in recent years, stock returns have fallen far short of the staggering rises in the cryptocurrency market.

For instance, between March 2020 and December 2021, the benchmark S&P 500 increased by slightly over 100%. Comparatively, over the same period, the total value of all cryptocurrencies surged from $141 billion to $2.2 trillion (an over 14-fold increase).

Despite these significant gains, cryptocurrency projects that provide unique benefits over rivals and real-world appeal have the potential to go even further. Keeping in mind that the cryptocurrency market is extremely volatile and prone to corrections, many analysts predict that new crypto Moshnake (MSH) and giants Shiba Inu (SHIB) and PancakeSwap (CAKE) could really boom within the next two years.

Shiba Inu — Top Performing Meme Coin

Shiba Inu is a meme coin that has carved out a substantial niche in the coin market. Like the dominant meme coin, DOGE, Shiba Inu (SHIB) succeeded in winning over the hearts of many followers and cryptocurrency enthusiasts, even without a clear utility during its launch period.

But many critics of the dog-themed meme coin predicted that Shiba Inu (SHIB) would fall into obscurity after its launch. However, Shiba Inu was among the top-performing cryptocurrencies in 2021, hitting an all-time high of $0.000084 at the end of the year, an outstanding 150,000,000% rise from its 2020 ICO.

At the time of writing, the crypto project ranks 14th overall largest cryptocurrency by market cap with a total market value of over $6 billion.

But will it be able to surpass and regain its prior highs and more in the next five years? Time will tell, but for now, we are optimistic.

Its developers are aggressively adding utilities to the crypto project. The top utilities are evident in the metaverse with ShibaLands and DeFi with ShibaSwap.

PancakeSwap — Top Liquid Provider on BSC

Both the price and trading volume of PancakeSwap (CAKE) have recently begun to increase. This cryptocurrency is undoubtedly becoming more popular, and in the crypto universe, growth in popularity often results in a price rally.

PancakeSwap (CAKE), powered by its utility cryptocurrency, CAKE, is a decentralized exchange with an automated market maker (AMM) that enables users to trade against a liquidity pool. The crypto platform also provides lotteries, staking, and more.

At the time of writing, PancakeSwap (CAKE) has the most users of any decentralized platform. Furthermore, these users are entrusting the crypto platform with their assets. According to its official website, PancakeSwap (CAKE) has over $4 billion in total value locked (TVL).

The PancakeSwap (CAKE) project has great potential, and experts anticipate it could go to the moon in the next five years.

Moshnake — Trendiest GameFi On Presale

GameFi cryptocurrencies are booming. And the latest addition to this list of cryptocurrencies with robust utilities is the Moshnake Token (MSH), the governance token of the Moshnake (MSH) gaming ecosystem.

Modeled on the legendary mobile snake game, the project is developing a substantial play-to-earn concept to build a healthy crypto community.

The play-to-earn (P2E) gaming concept offered by Moshnake (MSH) will allow users to earn rewards through skillful gameplay and regular engagement, with its ambitious roadmap making it a prime candidate for cryptocurrencies to explode in the future.

We’ve explored the three trendiest cryptocurrencies primed for explosive growth within the next five years, but one project stood out above the rest.

Moshnake (MSH) will develop many uses, a great community, and a well-defined future, making it a strong candidate to become the next big cryptocurrency to boom in the future.

You can participate in the Moshnake’s presale to buy the cryptocurrency at a discounted price before it explodes.

 

To find out more about Moshnake (MSH), visit the links below:

Website: https://moshnake.io

Telegram: https://t.me/MoshnakeOfficial

Twitter: https://twitter.com/moshnakeToken

 

Join the Meme Coin Squad With Dogecoin, Floki Inu, and Big Eyes Coin

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Meme tokens are digital currencies that include humorous designs. They have the capacity to spread like wildfire throughout the internet. Some of them have attracted the interest of famous people who occasionally interact with the neighborhood. The token thus continues to gain attention and appeal. These coins have previously made buyers exponential returns on their investments.

Many meme tokens lack any applications, and so to maintain their ecology, they rely on hype. As some of these tokens eventually lose value, maintaining the promotion might be very difficult. Big Eyes Coin (BIG) is a meme token that seeks to promote its ecosystem by utilizing blockchain technology. At the same time, they render financial services, establish NFTs, and make charitable contributions. Adding Dogecoin (DOGE), Floki Inu (FLOKI), and Big Eyes Coin (BIG) to your crypto portfolio is all you need to do to join the meme coin squad. Keep reading to learn why these crypto projects are worthwhile.

Dogecoin (DOGE)

Dogecoin (DOGE) has done remarkably well for itself, considering that it was first intended as a joke coin. It is currently ranked among the top ten cryptocurrencies, having a $7.8 billion market valuation! Despite not being as popular as it once was, Dogecoin (DOGE) still has a high return potential thanks to its high volatility.

Its supportive community is devoted to it. The Dogecoin community supports the coin through difficult times and helps it recover from price drops.

Due to its minimal fees and quick speeds, Dogecoin (DOGE) has consistently performed at a high level. It is mostly employed as a method of tipping employees. Nevertheless, Dogecoin is gaining popularity and is now accepted by thousands of businesses globally.

Floki Inu (FLOKI)

Floki Inu (FLOKI) is a meme token that aims to make cryptocurrency more accessible to the general public. According to the community’s charitable goals, every undeveloped country will eventually have a school. The coin is cross-chain, allowing for trading on both the Binance Smart Chain and Ethereum networks. Its interoperability renders it a flexible medium of trade for all cryptocurrency users. The network costs 3% of each transaction; this fee is put into the treasury and utilized for charitable giving and project development.

The platform’s Metaverse game, Valhalla, which follows a traditional play-to-earn protocol and rewards players with FLOKI tokens that can be exchanged for conventional money, is also powered by FLOKI. As a result, the coin’s demand rises, and its price in cryptocurrency also does. Users frequently need to spend FLOKI to advance faster in the game. FLOKI is accessible for $0.000008 on several exchange sites, which is consistent with the crypto crash and its market-wide repercussions.

Big Eyes Coin (BIG)

Big Eyes Coin (BIG) is a meme currency that strives to provide consumers with more than simply jokes and unimportant use cases. In order to move income from the coin space to meme enthusiasts, this cryptocurrency considers how it can embrace a community-driven strategy. Every community member will take an active part in the decision-making process thanks to their community-based approach. Additionally, NFTs will be made using Big Eyes (BIG). The abbreviation BIG stands for Big Eyes Coin (BIG).

Big Eyes Coin (BIG) distinguishes itself from meme coins by offering a wealth of user-friendly protocols that seek to appease the public while elevating the token’s standing. An influx of users and opportunities for the project will result from NFT trading. By phase three of the prelaunch, the intended NFT club will be operational. A few NFTs will be released prior to the club’s launch and will be accessible to members.

Big Eyes Coin (BIG) intends to debut on Uniswap and other cryptocurrency trading platforms in addition to a bustling NFT market. The coin will become more valuable and well-known in the cryptocurrency market by being listed on such platforms.

 

Big Eyes Coin (BIG)

Presale: https://buy.bigeyes.space/

Website: https://bigeyes.space/

Telegram: https://t.me/BIGEYESOFFICIAL

Tamadoge and Big Eyes Coin Become Part Of The Crypto Zeitgeist

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The cryptocurrency market has recently resembled an octogenarian on life support, having sustained a triple amputation as a result of a nail bomb explosion in an underground bumper. Fortunately this situation has shown steady signs of improvement. As inflation hits the globes’ major currencies, crypto continues its assent as an attractive proposition. Notwithstanding its cyclical volatility, it has shown there is a hunger for decentralised money exchange.

The crypto market has evolved since its inception, as evidenced by the current offshoot in the form of meme coins. These meme coins cut through the banal and stagnant air of a stiff finance environment. A clown on a unicycle honking his horn while doing circuits round the lobby of Morgan Stanley. That’s meme culture. It makes fun of itself. It finds the uncanny and the comical in the mundane. This new iteration introduced the world of crypto to a fresh audience of tech savvy millennials and gen z. We’ve grown up on a diet of Gen X televisual irony and Boomer postmodern self reflexivity. The result – an image with the right accompanying text formulated into a meme can perfectly summarise the feelings and thoughts of a society, looking in the wing mirror towards a mono-culture dissolving. Below we’ll take a scalpel to two tokens currently making the crypto community salivate – Tamadoge (TAMA) and Big Eyes Coin (BIG).

Tamadoge (TAMA) has exploited this interest and taken it a step further with a Pokemon hybrid that allows adopters to battle Tamadodge (TAMA) pets against each other. This preceded a pet store opening that allowed the community to choose from a whole host of plucky and adorable pets. The appeal of this token is its insistence on merging meme coin culture with the P2E gaming system. An arcade flooded with wacky, weird and playful games. And if that wasn’t enough, the team have elbowed their way into the NFT market with a 100 rare examples to choose from going live in under three days. This token looks to do for crypto what Mario did for gaming.

Finally, we have what might be considered the most exciting prospect and current underdog to Tamadoge’s unprecedented rise – the Big Eyes Coin (BIG). This token has run with the huge cross-cultural appeal of anime. Specifically – an adorable cute and cuddly animal, in this case – a cat. Big Eyes enters the arena with a conscience and a back story. This felicitous feline is partial to a fish treat. So Big Eyes (BIG) concern with the current condition of the Oceans, though self satisfying, is nonetheless an example of environmental concern and a belief in conservation. Placing its community at the centre of its values, 90% of its currency will be available. In line with its ethos and with its current paw on the pulse of the culture, Big Eyes Coin will be minting a host of Ocean- centric NFTS. In its pursuit of cultivating and indulging a growing community of cool cats and kittens, the team behind Big Eyes intend to hold live NFT events and giveaways.

Big Eyes Coin (BIG) is currently in stage 3 of its presale, a moment in which it is just about to release its NFT’s and a large cohort of early adopter influencers are shouting its praises from atop their platforms. Its own online shop is active for merch purchases. Join the Big Eyes Tribe. At its current stage the token price is so low that a return on investment seems as likely as the fact that night follows day. Keep your eyes peeled for this adorable cat as it takes the established wisdom of Dogecoin (DOGE) and Shiba Inu (SHIB) to a whole new level of audience participation. Having raised $3 million already, the cat is clawing its way to the top without much effort required.

Link below for the website and an in depth plan for crypto domination.

 

Big Eyes Coin (BIG)

Presale: https://buy.bigeyes.space/

Website: https://bigeyes.space/

Telegram: https://t.me/BIGEYESOFFICIAL