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Friday, 05 August 2022 05:07

Outdoor advertisers want billboards recognised as collateral

The President, Outdoor Advertising Association of Nigeria, Chief Emmanuel Ajufo has said the association will urge the Central Bank of Nigeria to recognise billboards as viable collaterals

Emmanuel stated this at the annual general meeting of the association, themed ‘OOH business and Nigerian regulatory laws’ held in Lagos.

According to him, in accessing funds for business growth, billboards should be recognised as collaterals due to their economic value.

He said, “We are therefore going to pursue the recognition by Central Bank of Nigeria, to use our billboards as collaterals.

“As an association, we will continue to push for things that will bring sustainable growth to the industry and out-of-home advertising business.”

The president said the AGM, apart from being an opportunity to render accounts of their stewardship to members, also provides the opportunity for external stakeholders to exchange views on how to move the industry forward.

[Punch]

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