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COSON Chairman, Tony Okoroji addresses members in a at the 2019 AGM
Members of Copyright Society of Nigeria (COSON) on Monday, May 20, 2019 approved the sum of =N=40,000,000.00 (Forty Million Naira) as recommended by the Management Board to be set out as specific distribution to qualified members of the society.
The approval which was unanimous among the large number of members took place at the 9th Annual General Meeting (AGM) which held at Lagos Sheraton Hotel, Ikeja.
The distribution is in addition to the sum of =N=81,520,000.00 (Eighty-One Million, Five Hundred and Twenty Thousand Naira) being currently paid out to members as General distribution in accordance with the approval of the December 2018 COSON EGM.
COSON Chairman, Chief Tony Okoroji while addressing members said: “You will recall that in December of 2018, at our Extra-Ordinary General Meeting, you approved the distribution of the sum of =N=81,520,000.00 (Eighty-One Million, Five Hundred and Twenty Thousand Naira) proposed by the Board, as General Distribution.
“I wish to report that a significant percentage of members have received their royalties in accordance with the decision approved by you. There might be some members who due to inadequate documentation or the change in our distribution platform occasioned by the wicked freezing of our bank accounts, who are yet to receive the royalties.
“It is my hope that we will get proper update from the states at this AGM so as to make sure that everyone gets what they are entitled to.
“If you approve the recommendation
of the Board for a further sum of Forty Million Naira to be distributed as
Specific Royalty, I believe that Management will take the necessary steps to
ensure that the distribution is activated without delay.
“The recommendation for specific distribution received unanimous consent as the members commended the leadership amidst chants of “COSON is working!” and “Let the music pay!”.