The Copyright Society of Nigeria (COSON) said it had resumed full distribution of royalties to its members, with N208.5 million earmarked for members and affiliates.
Tony Okoroji, the national chairman of COSON, disclosed this during the society’s 2023 Annual General Meeting (AGM), held in Lagos.
Okoroji said this followed a resolution adopted by the members during the AGM.
“Of the amount, N62,664,000.00 is set aside as “palliative royalty distribution. The money is being split equally among all members of the society whose names appear on the society’s register as of 19th May 2022 as palliatives to alleviate the pressing economic situation in the country.
“The remaining sum of N145,836,000 will be distributed to all qualified members as ‘specifics distribution’. I want to assure members of COSON and our international partners that the period of the locust is almost at an end and that with the members’ approval, COSON will, today, fully resume the distribution of royalties and benefits to our members and affiliates everywhere. God willing, before you leave here today, your phones will begin to receive the alerts,” he said.
Okoroji noted that the motion to ratify the decision of the COSON board, made at its meeting on 12 September, to approve the distribution, was created by Tony Ukate, a COSON member from Edo State and supported by Edwin Akwaeze from Imo State.
“I wish to assure you that despite the continuous harassment and torture that I have been subjected to, I am happy and proud to have been given the excellent opportunity to build and lead the COSON family.
“I verily believe in the words of Martin Luther King Jr that’ The arc of the moral universe is long, but it bends towards justice. I promise that I will keep the boundless fire of COSON burning and promise that our famous mantra, ‘Let the Music Pay!’ will continue to be heard everywhere,” he said.