LOTTERIES NIGERIA Nigeria Set-up Committee to Recover Billions from Lottery Companies 2 years ago Adeleye Awakan Post Views: 2,037 The Nigerian government echoed that it is losing billions of naira to unpaid revenue from lottery operators from 2015 to the lottery sector due to outstanding payment from lottery operators through tax. Consequently, due to this, the government inaugurated an 11-man ministerial task force committee in Abuja to recover such funds across the country. The committee members include the chairman Mr. Williams Alo, Permanent Secteray in the ministry, and the following members include the Director-General National Lottery Regulatory Commission, Mr. Lanre Gbajabiamila, Mr. Bello Maigari, and Mr. Okechikwu Oduma, and other members are Dr. Stella Maduka, Mrs. Okunade Serah. Mr. Simon Tyungu, Mr. Jude Ughwujabo, including a representative from the Central Bank of Nigeria (CBN), Economic Financial Crime Commission (EFCC), and a Nigerian representative Police Force. The task force members are also expected to recover funds from the lottery permits holders across the country, and they are given two months to complete their task. According to Sen George Akume, Minister of Special Duties and Intergovernmental Affairs made this known that the inaugurated special Ministerial Committee Taskforce to be chaired by the Permanent Secretary to recover unpaid revenue from lottery operators and permit holders in Nigeria from 2015. “The terms of the reference are expressly stated in the appointment letters forwarded to designated task force members, and it is expected that the task force shall complete its work within the next two months,” – he said. Minister further said that he had ample opportunity to consult with industry stakeholders since he assumed duties, adding that he was unsatisfied with his findings from lottery operations across the country. Historic revenues collection from lottery and gaming transactions has underperformed, resulting in significant government losses. “Despite my earlier appeal for the increased effort by operators to pay what they owe, statutory returns continue to be low”, – Akume said. Lanre Gbajabiamila Therefore, he charges the task force to determine what funds are owed to the government from 2015 to 2020 and facilitate the immediate recovery of fund funds to the government treasury. The government also expressed displeasure over inadequate income from the country’s lottery sector despite the numbers that have established operations in the country compared to what is obtained from other countries. The lottery sector in Nigeria had the potential to increase the country’s revenue base if the proceeds made from it were remitted correctly as required, regarding the need to raise funds for the administrative issues of this country. This country cannot continue to depend on oil as reasonable effort is being made to diversify the economy. That is why we have to look at some gaps that are not generating enough funds from the lottery to meet up the excellent course and help the government pursue its developmental projects. Also, Mr. Lanre Gbabiamila explained that the committee would serve as a platform to capture all the lottery operators in the country who owe the government. “The central monitoring system will capture any leakage, meaning the authority is working towards all the operators in Nigeria will be connected to that platform, and it will capture online transactions, so there’s no way the brand can hide.” Thus the regulatory board, in turn, plans to implement technology that will capture all operator’s transactions process to monitor the transactions of each operator of credit and debit balance to determine their proceeds. 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. Facebook Twitter LinkedIn Email Print Tags: Lottery, Nigeria Continue Reading Previous Lotto how to playNext BtoBet Partners with Luckybet More Stories BETTING NIGERIA Parimatch Tech evolves into GR8 Tech 12 hours ago Szarlot LOTTERIES SOUTH AFRICA 18 Lotto Fraudsters Arrested 5 days ago Szarlot LOTTERIES NIGERIA Commission DG inspects lottery facility ahead national games 6 days ago Szarlot LOTTERIES NIGERIA Meet the Real Owner of Baba Ijebu 1 week ago Szarlot NIGERIA ONLINE Does Nigeria really have the biggest gambling industry in Africa? 2 weeks ago Szarlot NIGERIA ONLINE Safest Betting Apps for Nigerian Players 2 weeks ago Samuel BETTING NIGERIA 13 players win over N160m via BetKing’s ACCA 2 weeks ago Szarlot NIGERIA ONLINE Google suspends 5.6m advertisers in Nigeria 2 weeks ago Samuel GHANA LOTTERIES Maltese Minister of Foreign Affairs & Trade visits NLA 2 weeks ago Szarlot EXPERTS NIGERIA Paying deeper attention to our youths 2 weeks ago Samuel BETTING NIGERIA Top eight apps for sports betting in Nigeria 2 weeks ago Samuel LOTTERIES NIGERIA How LuckyMe Nigeria is adding value to lives 2 weeks 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. Δ This site uses Akismet to reduce spam. Learn how your comment data is processed.