Copyright Society assures members of prompt payment of second palliative royalty
The Copyright Society of Nigeria (COSON) has assured its members across the country of prompt payment of their second palliative royalty, approved by the society’s 2024 Annual General Meeting (AGM), held recently.
Its Chairman, Chief Tony Okoroji, in a statement on Thursday, said that the palliative royalty was a token to members to further assist them to deal with the current economic hardship in the country.
Okoroji said every member that was entitled to the palliative, as explained during the AGM, would receive their palliative in earnest.
He noted that this was different from the N465.5million royalties distributed to COSON members earlier, on Dec. 10.
He said “After the approval, the 2nd palliative royalty distribution commenced immediately at the AGM. Several members confirmed receiving their alerts while the meeting was still going on.
“My information is that as of Wednesday, December 18, 2024, 4,083 members across the country have received their second palliative distribution. More should receive theirs before Christmas.”
“COSON members are once again assured that they belong to an organisation that is 100 per cent transparent and accountable.
“No COSON member will lose one Naira of money which he is entitled to. Any COSON member who has yet to receive his royalty is assured that his money is safe.”
Okoroji explained that there were some COSON members who were yet to receive their money because they had given COSON faulty account details or had changed their bank accounts without notifying the society.
According to him, there were also several members whose royalties were returned unpaid by the society’s bankers.
“We have noticed that a significant amount of the returned royalties is with respect to members with accounts with one bank.
“COSON is presently engaging the banks to find out the reason for this anomaly and to have the problem resolved.
“We have published a list of the COSON members whose royalties were returned and we request that the affected members forward alternative account details by WhatsApp or SMS to a stated dedicated phone number so that a new payment can be initiated on their behalf, without delay,” he said.
