EXPERTS HOT NEWS NIGERIA Lagos-Nigeria Propose a New Gambling Bill 3 years ago Adeleye Awakan Post Views: 1,284 Lagos is the commercial capital of Nigeria, known as the State where all essential gambling-related activities occur in the country. However, gambling is well in existence in another State in the country. Still, Lagos Gaming Board is the most advanced, and the city boasts over 20 million inhabitants valued at $130 billion in GDP. The State proposes a new virtual betting Bill to consolidate all Law on betting in the State. The Bill will see operators of lottery, pools, and sports betting operators will be charged N20 million ($51, thousand USD) license fee if the State government finally approves the Bill proposed by the State Lagos Assembly on Law on betting. It was disclosed by the Lagos Assembly the Bill, entitled “Lagos State Lotteries and Gaming Authority Bill Arrangement of Sections,” went through a public hearing at the State House of Assembly. According to the proposed new Bill, before a license is granted to an operator, the Authority shall be satisfied that the interested applicant is a registered company in Nigeria. Under the CAC Corporate Affairs Commission with a minimum of the share capital of N20, 000,000 ($51,000,000) or as may be directed by the Authority, the new propose bill also specified that the local content shareholder should abide by the regulations policies, terms, and conditions issued by the Authority. It was revealed at the Public hearing that the new Bill when it becomes Law, will consolidate all the laws in the gaming sector and repeal existing laws such as the Lagos State Lotteries (Amendment) Law 2008. The Lagos State Lotteries Law (2004), and the Casino and Gaming Regulatory Authority Law (2007) others are Casino and Gaming Regulations (2007), Pools Betting Control Law (2003) and Pools Betting Tax Law (2003). At the Assembly, the Speaker of the House, Mr. Mudashiru Obasa, represented by the Deputy Speaker, Mr. Wasiu Sanni Eshinlokun, said in his keynote address that the legislature functions and the legislature is the bedrock of democracy. Further stated, a sound legislature needs to aggregate the common interest of the majority and that it must perceive the importance of the people and aggregate it for us to achieve the essence of democracy, in which the legislature must be in tune with the people. The new proposal Bill has 109 sections with three regulations meant to establish the Lagos State Lottery and Gaming Authority. And regulate all gaming activities, and another connected purpose part of the Bill is it to addresses cybersecurity and addresses the concerns of many people that partake in the sectors. The new proposed Bill is not meant for the operators alone, and it is intended for the regulators as well. However, suppose this Law becomes a Law. In that case, it will see operators pay a license fee to offer virtual betting as regards the previous laws that allow operators to provide virtual betting once there have a license to operate sports betting. While the new Bill will also address a 3% service charge, the State Lotteries Board collects from operators that are proposing to increase as part of the new Bill. About Post Author Adeleye Awakan Author E-play Africa, sports betting reviews, thoughtful leardership articles in Africa gambling industry, marketing gaming platforms in Africa with strong networking relationship with gaming operators in Africa, Expertise in PR, marketing communication, and consultant on gaming in Africa. See author's posts Adeleye AwakanAuthor E-play Africa, sports betting reviews, thoughtful leardership articles in Africa gambling industry, marketing gaming platforms in Africa with strong networking relationship with gaming operators in Africa, Expertise in PR, marketing communication, and consultant on gaming in Africa. 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