LOTTERIES NIGERIA Nigerian Lottery Act ‘not in public interest’ according to committee 12 months ago Iwo Bulski Post Views: 532 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 About Post Author Iwo Bulski Issues 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. See author's posts 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 EXPERTS NIGERIA Court confirms federal body as sole Nigerian gaming regulator 8 hours ago Iwo Bulski BETTING NIGERIA Waxibet Out To Change Sports Betting Narratives In Nigeria 1 day ago Samuel CASINO NIGERIA Two incredibly exciting live game in the live casino sector 2 days ago Iwo Bulski BETTING NIGERIA All About Cricket Betting 1 week ago Iwo Bulski EXPERTS NIGERIA SBWA + 2022 Summit this week in Nigeria 2 weeks ago Iwo Bulski EXPERTS NIGERIA Money laundering: ECOWAS agency fingers Nigerian casinos 2 weeks ago Iwo Bulski NIGERIA ONLINE BGaming develops compression algorithm to cut game loading time 3 weeks ago Iwo Bulski BETTING NIGERIA BetConstruct Takes Harmony to Africa 4 weeks ago Iwo Bulski BETTING NIGERIA Chukwuemeka Donatus Discuss How Being A BetKing Agent 4 weeks ago Samuel LOTTERIES SOUTH AFRICA Top Lottery Exec to Face New Corruption Inquiry 1 month ago Szarlot BETTING NIGERIA Who are the best Nigerian footballers? 1 month ago Samuel LOTTERIES SOUTH AFRICA R7.5 Billion in Mega winnings up for grabs with Lottoland SA! 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. Δ This site uses Akismet to reduce spam. Learn how your comment data is processed.