LOTTERIES NIGERIA Nigerian Lottery Act ‘not in public interest’ according to committee 3 weeks ago Iwo Bulski Post Views: 222 The Nigerian House of Representatives Committee has lambasted the country’s National Lottery Act 2005, labelling it ‘not in the public interest’ and ‘against Nigerian constitution’, according to a report in Nairametrics. At the 2022 to 2024 Medium-Term Expenditure Framework/Fiscal Strategy Paper summit, attended by members of ministries, governmental departments and committee Chair, Rep. James Faleke, figures took issue with the management of the National Lottery Trust Fund. Faleke raised issues that the Fund was not given the necessary fund nor power to implement positive change as it is supposed to. “It is not in agreement with the Constitution of the Federal Republic of Nigeria, as to who has the authority to approve the budget; it is not the president, the president shall present, and the National Assembly shall approve,” Rep Faleke said, courtesy of Nairametrics. “In the meantime, we are giving this directive; that the Budget Office should write a letter to the Trust Fund pending the investigation we intend to carry out on the National Lottery Trust Fund, all revenue remittance to the fund should stop for now.” Meanwhile, the Executive Secretary of the Fund, Belo Maigeri, noted that the Fund is expected to carry out its operations and perform its duties out of its own pocket, rather than from lottery funds. He noted: “Section 40 of the Act says proceeds of the trust fund shall be applied from time to time to fund projects approved by the President on the recommendation of the Board of Trustees of the Fund, in the interest of the Nigerian community. Such a project shall be for the advancement, upliftment and promotion of sports development, education, social services, welfare, relief, and disaster management in Nigeria.” This comes shortly after the Nigerian authorities announced it would impose a central monitoring system on its National Lottery after allegations of corruption in the National Lottery Regulatory Commission. Source: lotterydaily.com Iwo BulskiIssues related to the gambling business is engaged in more than 30 years. My empirical experience gives me the opportunity to present events and companies from this business with full knowledge and industry knowledge. Facebook Twitter LinkedIn Email Print Tags: Lottery, Lottery Act, Nigeria Continue Reading Previous The rise of smartphones in NigeriaNext FBI Helps to Train Nigerian Crypto Crime Investigators More Stories GHANA LOTTERIES Ghana National Lottery Authority Announced Registration Interested Entities 3 days ago Adeleye Awakan NIGERIA ONLINE Developing Countries Provide Huge Opportunities For Crypto 1 week ago Samuel KENYA LOTTERIES The Kenyan regulatory board suspends 81 lottery account numbers 2 weeks ago Iwo Bulski NIGERIA ONLINE Planned Nigerian e-naira discourages cryptocurrency investors 2 weeks ago Szarlot NIGERIA ONLINE Nigeria’s SEC eyes regulations to protect investors’ crypto investments 2 weeks ago Iwo Bulski BETTING NIGERIA Manual for sports betting top betting sites in Nigeria 2 weeks ago Iwo Bulski LOTTERIES NIGERIA National Lottery Act 2005 inconsistent with Nigeria’s constitution 3 weeks ago Szarlot NIGERIA ONLINE FBI Helps to Train Nigerian Crypto Crime Investigators 3 weeks ago Samuel NIGERIA ONLINE The rise of smartphones in Nigeria 3 weeks ago Szarlot LOTTERIES SOUTH AFRICA ‘I don’t plan to leave my job’ – say lottery winner 4 weeks ago Szarlot HOT NEWS NIGERIA ONLINE Paxful Show Commitment to Support Nigerian to Regulate Cryptocurrency 4 weeks ago Adeleye Awakan BETTING NIGERIA BetArena Unveils Brand Identity 1 month 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.