First Bank Lands In N700m Court Mess

Nigeria’s oldest financial institution, First Bank of Nigeria, FBN, has found itself in a N700 million court case. The respected bank was taken to court by the Copyright Society of Nigeria, COSON, on Tuesday over an alleged copyright infringement.

In a suit No. FHC/CS/L/530/2014 filed before a Federal High Court in Lagos by counsel to COSON, Justin Ige of Creative Legal, Seun Omotoba & Co, the organisation is accusing First Bank of “unauthorized use of several musical works and sound recordings communicated to the public, deployed and exploited as marketing, promotional and advertising materials by First Bank Plc and contained in Sights and Sounds of Carnival Calabar.”

According to a statement released by COSON and made available to Aproko247, “First Bank Plc did not apply for or secure a license or any authorization whatsoever before exploiting, communicating to the public, publishing and deploying the musical works and sound recordings of its members and assignors as included in, reproduced and contained in the Sights and Sounds of Carnival Calabar and deployed by First Bank Plc in its marketing, promotion and advertising.”

“Let it be heard loud and clear, that COSON is determined to sanitize the copyright environment in Nigeria.

“No one is too big or too small to abide by the law. A lot of young Nigerians are investing their talents, time and money in creating the music which is making Nigeria famous across the world and they deserve to be respected.

“For anyone to exploit their creative ingenuity, the person must get appropriate permission. If a musician takes a loan from a bank without paying back, the bank will chase the musician to the ends of the world to recover the loan. What right does a bank have to use the property of the musician without payment or authorization?” the statement quoted COSON Chairman, Tony Okoroji, to have said on the development.

Also, COSON General Manager, Chinedu Chukwuji, was quoted by the statement to have asked, “Is it not hard to imagine why after being aware of the appropriate steps to take in the public communication of music, some people just find a way to kick against the law?

“Music is an investment and nobody treats lightly his investment. COSON will continue to ensure that the music industry in Nigeria is beneficial to all investors, foreign or local. We will see to it that the music pays no matter what tactics some music users may try to deploy in evading their obligations”.

Meanwhile, the Group Head, Marketing and Corporate Communications, First Bank Plc, Folake Ani-Mumuney, didn’t not react to the development when our reporter contacted for comments.