#COSON Resumes Copyright Royalties Distribution To Disburse N208m—–The Copyright Society of Nigeria on Tuesday said it has resumed full distribution of royalties to its members, with N208.5million earmarked for both members and affiliates.
Tony Okoroji, 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 in the course of the AGM.
“Of the amount, the sum of 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 at 19th May 2022, as palliatives, to ameliorate 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 approval of the members, 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 COSON board, made at its meeting of Sept. 12, to approve the distribution, was made by Mr Tony Ukate, a COSON member from Edo State and supported by Sir 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 great 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 popular mantra, ‘Let the Music Pay!’ will continue to be heard everywhere,” he said.
Okoroji recounted the battles COSON had engaged in to continue to provide succour to musicians in Nigeria.
He appreciated members, board, management and staff of COSON, for their unflinching support for the body.
“Members of COSON have proved to Nigerians that the rampaging economic and political issues, marauders, and scammers operating in our country can be fought to a stand still and won without fear.
“I remember being warned to get out of the way or I will be crushed by the power of the state.
“I have made it clear that I am prepared to lay down my life in the defence of the rights of the creative people of Nigeria.
“It is my firm belief that no great nation on earth has been built by cowards,” he said.
The News Agency of Nigeria reports that during the meeting, four members of COSON board whose tenure expired at the AGM, were re-elected .
They are :Sir Shina Peters, Ms Kenny Saint-Brown, Engr Sharon Esco Wilson and Chief Uche Paul.
There was an approval of the audited financial statement of the society for the year ended Dec. 31 2022.
The AGM was attended by musicians and music industry stakeholders from across Nigeria.