Owners and managers of Nigeria-domiciled companies whose products and services are meant for Nigerian consumption but are being advertised on expensive foreign media such as CNN and others have been described as shameless people on mere ego trip.
Such companies must restrict their advertisements to local media and stop frittering away money in the names of adverts to foreign media such as Cable News Network (CNN).
Speaking with Daily Independent in Lagos on Thursday, Chief Olabode George, a former Deputy National Chairman of the Peoples Democratic Party (PDP) said paying huge amounts in advertising local brands on international media does not make any economic, human or political sense.
According to George, some companies guilty of this are ZenithBank, Dangote and Globacom network.
He argued that many of the adverts which are being broadcast up to 10 times daily where people have no need for them is simply an ego trip that must be stopped.
“ Every day, go to see CNN, you see three major Nigerian companies advertising. You see them showing juju music adverts on CNN advertising Globacom.
“What has Globacom advert got to do with CNN that is being shown all over the world? Are they using Glo network in Europe or South America?”
“ If these adverts are being shown on local television stations, I can understand. I was with my friend in Europe and he showed me Glo advert on CNN. Also, Aliko Dangote whose products are being consumed here will be advertising on CNN a minimum of 10 times a day.
“The same also applies to Zenith Bank. These are shameless people.
“Who are they trying to impress? That money they are throwing at CNN in the name of needless adverts will send a lot of younger people into good lives here in Nigeria either through job creation, or support for education or skills acquisition”.
“Those adverts on CNN is a waste of money because that money they are frittering away was generated here in Nigeria. It’s so demeaning. It doesn’t make any economic, political or human sense. What is FIRS doing on this? Why can’t Fowler take action? What is CBN doing about this? For all these adverts, do you think they pay in Naira?”
According to George, despite having a capital base that is bigger than all Nigerian banks combined, ABSA bank in South Africa does not run adverts on CNN or other foreign media like Nigerian banks.
He urged the federal government to tax heavily companies who patronise foreign media for adverts, saying the money generated from the taxes should be used in building skill acquisition centres all over the country.
“ ABSA bank in South Africa, their capital base is bigger than all our banks in Nigeria put together. Have you seen them running adverts on CNN? What is going on here? What is this ego trip for nothing? Are we the only country in the world?”
“Instead of wasting this money on needless adverts on CNN, they should use this money to get a 5G network and improve the useless services we are getting. I have tried to call the owner that what has these adverts got to do with the whites that you are showing it on CNN and everybody sees it all over the world, even where the network is not being used? Do they have the network there?”
“If they don’t know what to do with the money, they should return it to the government to set up things of benefits for the people in the name of the donor organisation.
“The government must clamp down on them. if they spend one dollar for any advert on international media, another extra dollar will go to supporting skill acquisition in Nigeria”.
“The government must enforce it. That money they are throwing away in the name of foreign adverts are generated in this country” he posited.