LOTTERIES NIGERIA Lottery Commission implements measures to deter money laundering – DG 1 week ago Samuel Post Views: 75 The National Lottery Regulatory Commission has introduced stringent measures to deter money laundering, financing of terrorism, proliferation of weapons of mass destruction and other predicate offences in the lottery industry in its unrelenting effort to serve Nigeria and the industry better. Essentially, the new technology based measures are being attained through information and intelligence sharing with the relevant agencies and arms of government, according to the Head of Public Affairs for the commission, Mr. Magnus Ekechukwu. Mr Ekechukwu spoke to journalists at the sideline of a workshop on Effects of Hate Speech, Fake News, Financial and Cyber crimes on National Security in Nassarawa on behalf of the Director General of the Commission, Mr. Lanre Gbajabiamila, over the weekend. Already, Mr Ekechukwu disclosed that the National Lottery Regulatory Commission (NLRC) under the leadership of Mr. Gbajabiamila had signed a Memorandum of Understanding (MoU) with the Nigerian Financial Intelligence Unit (NFIU) and the National Lottery Trust Fund (NLTF) for efficient and effective implementation of the measures. Mr. Ekechuwku told journalists that since assumption of office, the Director General of the commission, has been methodically and successfully introducing well thought out and sustainable policies and programs that have repositioned the 15 years old commission which are now engendering profound results in terms of revenue generation, promotion and protection of stakeholders including the stakers and most importantly supporting the Federal Government in its fight against corruption, terrorism and insecurity, generally. The Lottery Commission’s spokesperson explained that the objective of the recently signed MOU with the agencies was to strengthen and ensure transparency in the Nigerian Lottery industry; facilitate exchange of knowledge and expertise through training programs and promote a better understanding of economic and legal conditions relevant to the enforcement of applicable laws and statutes. Furthermore, Mr. Ekechukwu said the MOU would equally aid the establishment of a framework for the protection of lottery and financial stakeholders in relation to lottery- based activities undertaken by lottery operators and their partners and as well facilitate research and education measures to increase efficiency and staff exchange programs. He said the commission was totally committed and dedicated to the war against corruption and insecurity being fought by the Federal Government and would spare no efforts in playing its part as a responsible and responsive commission of the government. In addition, Mr. Ekechukwu stated that the commission was also contributing significantly to the diversification of the economy being diligently executed by the government of President Muhammadu Buhari saying: “the National Lottery Regulatory Commission is gradually becoming a major source of revenue for the country. We are working hard on this and very soon, we shall become a major revenue earner for Nigeria. You know we have already passed the billion Naira mark as against the less that 600M Naira revenue we were earning before ‘Mr. Lottery’, Gbajabiamila assumed office. With him, we shall get there, very soon. Our commitment is total.” Source: premiumtimesng.com SamuelI am a journalist specializing in gambling in Africa and around the world. I am particularly interested in stories about games and casinos. Facebook Twitter LinkedIn Email Print Tags: Lanre Gbajabiamila, National Lottery Regulatory Commission, Nigeria Continue Reading Previous Nigeria moves to regulate crypto currencies, other digital investmentsNext Nigeria’s financial regulator to oversee blockchain and crypto More Stories BETTING NIGERIA Nigeria’s diverse iGaming landscape in 2020 22 hours ago Samuel BETTING NIGERIA Bet9ja adds LiveG24 games for Nigeria 3 days ago Iwo Bulski BETTING NIGERIA CBN probes betting houses, requests account statements of owners 7 days ago Szarlot EXPERTS NIGERIA BtoBet launches “Nigeria Betting Focus” industry report 7 days ago Samuel BETTING NIGERIA Nigeria-CBN Allows Suspended Gaming Companies to pay Salaries and Winnings over Forex Infractions 1 week ago Adeleye Awakan NIGERIA ONLINE How COVID-19 lockdown affected Internet usage in Nigeria? 1 week ago Samuel Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment Name * Email * Website Save my name, email, and website in this browser for the next time I comment. This site uses Akismet to reduce spam. Learn how your comment data is processed.