COSON set to pay multi-million royalties

The premises of the National Theatre, Iganmu, Lagos will witness a beehive of activities on Tuesday, December 13, for the first Annual General Meeting (AGM) of the Copyright Society of Nigeria (COSON). Expected to grace the event are Nigeria’s top songwriters, composers, publishers, owners of copyright in sound recordings and key music performers.
In keeping with promises made by COSON earlier in the year, the occasion will also mark the first general distribution of royalties by the society to stakeholders in the Nigerian music industry.
The decision to hold the AGM on December 13, according to COSON Chairman, Chief Tony Okoroji, was taken following two full board meetings of the society held within one week on November 1 and November 8, 2011, in Lagos. The meeting of December 13, will also receive the report of the Directors while the members will have the opportunity to x-ray the activities of the society and chart a course for its future.
Speaking on the coming AGM, Okoroji says: “There are many who have expressed the view that collective management of copyright cannot work in Nigeria. They should come to the National Theatre on December 13 and see it at work. The distribution of twenty five million naira in one day, while an unprecedented event in Nigeria’s copyright history, is only a first step in what is a major breakthrough. I believe that working constructively together and remaining focused we have the capacity to do ten times or even a hundred times that amount in the very near future. Once the members agree to the distribution scheme, payment will begin immediately at the National Theatre. Our word is our bond”