Thu. Nov 21st, 2024

… Says over N45m royalties distributed to members

The incumbent chairman of Audio Visual Rights Society of Nigeria (AVRS), Mahmood Ali-Balogun, has been re-elected into office.

In fact, four vacant seats on the Management Board were filled through elections conducted during the organisation’s 8th Annual General Meeting (AGM) held in Lagos recently.

Two incumbent directors, including the chairman, Ali-Balogun and Chief Peddie Okao were re-elected after retiring, while two new directors, Lancelot Imaseun and Nafisat Abdullahi joined the Board.

The AGM’s agenda focused on four critical areas including Approval of Financial Statements, Review of Auditor Engagement, Board Elections, and Authorization for Royalty Distribution.

At the event, AVRS’ audited financial statements for the year ending December 31, 2023, along with the auditors and directors’ reports were presented and adopted.

The external auditor, Olukayode Timehim & Co, provided the audit report, reflecting strong financial oversight. Members discussed the auditor’s position and authorised the Board to make any necessary changes and determine their remuneration. Approval was granted to carry out distribution as soon as practicable in accordance with Article 16 of the society’s Memorandum and Articles of Association.

Ali-Balogun presented a report on distributions between January 2023 and March 2024, revealing that over N45 million in royalties had been distributed to members with verified account information. He also highlighted AVRS’ efforts to engage with users of audiovisual works, focusing on hotels and other similar establishments.

“Our partnership with hotel associations in Lagos and Abuja, through group licensing agreements, has enabled smoother operations and fostered mutual understanding,” he stated.

The agreements, expiring in December, are already under renegotiation to align with market developments and industry needs. Ali-Balogun commended the President of Hotel Owners & Managers Association of Lagos (HOMAL), Chief Samuel Alabi for the continued compliance of its members to AVRS licensing obligations.

On enforcement efforts, Ali-Balogun detailed AVRS’ collaboration with the Force Criminal Investigation Department (FCID) to ensure compliance from non-cooperative hotels, particularly in Abuja.

“Enforcement actions, though challenging and costly, are essential to uphold the rights of our members and protect the value of their works,” he remarked.

In a related development, the chairman confirmed progress on the Private Copying Levy, with substantial funds already collected and awaiting distribution to relevant Collective Management Organisations (CMOs) and rights holders. Members commended the Board and management for their dedication and sacrifice, and expressed appreciation for the chairman’s exemplary leadership throughout the year.

Apart from the returning AVRS’ directors like Alhaji Sani Muazu, Prince Jide Kosoko, Monalisa Chinda, Norbert Ajaegbu, Chief Rotimi Aina-Kushoro, Yemi Solade, Tunji Ojetola and Mrs. Bukola Adeyemi (GM), the meeting also had many industry heavyweights in attendance, including Zeb Ejiro, Emeka Ossai, Zik Zulu Okafor, Mike Nliam, Abdulrazak Abdullahi, Toyin Uthman, Lekan Oyegoke, Banke Ajani, Alex Eyengho, Francis Onwochei, who anchored the event with AVRS’ consultant, Dr. Chinedu Chukwuji, and representatives of Nigerian Copyright Commission (NCC) led by the Director of Lagos Office, Mrs. Lynda Alphaeus, and Mr. Adeniyi Ologun.

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