The President, Outdoor Advertising Association of Nigeria, (OAAN), Chief Emmanuel Ajufo has disclosed that the association will pursue the recognition by the Central Bank of Nigeria, (CBN) to use billboards as collateral.

Chief Ajufo stated this at the Annual General Meeting, (AGM) of the Association, themed: ‘OOH Business and Nigerian Regulatory Laws’ held in Lagos at the weekend.

According to him, in accessing funds for business growth, they ask for houses as collateral but members of the association have structures costlier than the buildings in hoardings.

“We are therefore going to pursue the recognition by Central Bank of Nigeria, CBN, to use our billboards as collateral. As an association, we will continue to push for things that will bring sustainable growth to the industry and out-of-Home advertising business.”

The President said the AGM, apart from being an opportunity to render accounts of their stewardship to members, also provides the opportunity for external stakeholders to exchange views with members and to share their thoughts as it concerns their businesses.