Lagos - The Copyright Society of Nigeria has approved the distribution of the sum of N90 million to musicians for royalties, reports Nigerian Entertainment Today( NET)
This was announced during COSON’s Extraordinary General Meeting.
The distribution commenced immediately after the money was announced.
Delivering his address at the event, COSON chairman, Tony Okoroji announced that the sum of N90,000,000 (Ninety Million Naira) is an 80% increase from the sum of N50 000,000 (Fifty Million Naira) which the society distributed in 2013.
Also read:COSON set to distribute royalties
Okoroji also asked the Federal Government to help the music industry survive by approving the Copyright Levy Scheme .
Musicians have been getting their royalties since COSON has lived up to its mandate in ensuring that right owners are adequately compensated with what is due.
Read more at NET
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