The Copyright Society of Nigeria (COSON) says it has disbursed N465.5 million as 2024 royalties to its members and affiliates — the highest amount ever distributed in the organization’s history.
NAN reports that the royalties were distributed during the society’s 14th annual general meeting in Lagos.
Speaking at the event, Tony Okoroji, COSON’s chairman, said the organisation has seen a remarkable 123% increase in royalties compared to 2023.
Okoroji added that every member is expected to receive their royalties immediately.
“We are distributing N465.5 million to all members of COSON today and every member is expected to get their royalties immediately,” he said.
“We have recorded beautiful milestone achievements in the course of the year and I must appreciate everyone for standing tall in our moments of trials.
“Membership to COSON has increased, we have about 5, 406 members now, and this is across the federation.
“Fellow members of COSON, let me state that I verily believe that in these hard times, we could have done more, much more for the musicians of Nigeria.
“It is a paradox that the institution established by the state to enable us to soar and achieve great results for our nation, conspired with carpetbaggers and fraudsters to become the greatest obstacle to our progress and success, but we continue to fly, due to the unbreakable COSON spirit.”
Okoroji also urged them to uphold the spirit of love and brotherhood which the society represents.
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