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Meta: Nigeria sues Mark Zuckerberg's company, demands N30bn

... the parent company of Facebook, Instagram and WhatsApp platforms...

Vice President 'Yemi Osinbajo (L), President Muhammadu Buhari (M) and Facebook Founder and CEO Mark Zuckerberg (R) taking a selfie

This was disclosed on Tuesday, October 04, 2022, in a statement by the highest regulatory body for Nigeria’s advertising, ARCON.

What's really going on: The country’s apex advertising governing agency revealed that the advertisements on Facebook, Instagram and WhatsApp in the Nigerian markets are not vetted and approved by the federal government.

ARCON is arguing that Meta Platforms Incorporated has continued to expose the Federal Government to loss of revenue adverts.

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It is seeking N30bn in sanction for the violation of the advertising laws and for loss of revenue.

The statement read: “The Advertising Regulatory Council of Nigeria (ARCON) has instituted a suit against Meta Platforms Incorporated (owners of Facebook, Instagram and WhatsApp platforms) and its agent AT3 Resources Limited at the Federal High Court, Abuja Judicial Division.

“ARCON is seeking declaration among others that the continued publication and exposure of various advertisements directed at the Nigerian market through Facebook and Instagram platforms by Meta Platforms Incorporated without ensuring same is vetted and approved before exposure is illegal, unlawful and a violation of the extant advertising Law in Nigeria.

“ARCON stated that Meta Platforms Incorporated’s continued exposure of unvetted adverts has also led to a loss of revenue to the Federal Government.

“ARCON is seeking N30b in sanction for the violation of the advertising laws and for loss of revenue as a result of Meta Incorporated’s continued exposure of unapproved adverts on its platforms.

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“ARCON reiterate that it would not permit unethical and irresponsible advertising on the Nigeria’s advertising space.

“ARCON further stated that it’s not regulating the online media space but rather advertisement, advertising and marketing communications on the online platforms in line with its establishment Act.”

According to ARCON, the Council is not regulating the online media space. Rather, it’s focus is on advertising and marketing communications on the online platforms in line with its establishment Act.

What you should know: Facebook had announced that Nigerians will pay 7.5 percent value-added tax (VAT) on all ad placements from January 1, 2022.

According to the statement, the charge applies to those buying ads for both businesses or personal purposes.

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