NLRC, Partners with NFIU to Curb Remote Gaming in Nigeria

The Nigerian Lottery Regulatory Commission (NLRC) and the Nigerian Financial Intelligence Unit (NFIU) strengthen collaboration against remote gaming and others. In its bid to give more impetus to the fight against Remote Gaming regarding betting and gaming companies poaching of punters from Nigerian space without recourse to the country’s enabling regulatory laws.

These were disclosed by the Director-General of the NLRC, Mr. Lanre Gbajabiamila, during a courtesy call on the Director/CEO of the Nigerian Financial Intelligence Unit, Mr. Modibbo Haammam Tukur, in Abuja. Mr. Gbajabiamila said that remote gaming had been a challenge in the Nigerian Lottery and Gaming Industry, stressing that the Commission would not rest until it overcomes the challenges of financial leakages occasioned by remote gaming. He further said that the Nigeria Lottery Regulatory Commission had been involved in several strategic collaborations on how to strengthen the operations of the Commission, identifying partnership as a catalyst to the success of the Commission mandate. “We know that working with partners helps bring together available resources for the purpose of achieving more impact, greater sustainability, and increased value to all stakeholders.

Today the National Lottery Regulatory Commission is proud to call Nigerian Financial Intelligence Unit our partner. Recently we signed a Memorandum of Understanding with Nigerian Financial Intelligence Unit with the aims to combat money laundering and terrorism financing in the Gaming sector. Our alliance and mutual cooperation are now more imperative and responsible agencies. We have to keep pace with the dynamic and growing complexity of the modern lottery industry, which features multi-channel availability, the electronic delivery of play, and complex financial transaction. Our Memorandum of Understanding marks an important milestone in this effort and ushers in an unprecedented level of mutual cooperation between the two agencies he said.

The Director/CEO of the Nigerian Financial Intelligent Unit, Mr. Modibbo Tukur, echoed the readiness of his Unit to synergize with NLRC in fighting, especially illicit financial practices within the lottery industry. /he said specific aspects of the NLRC activities would be integrated into the NFIU systems to give full effects to the collaboration which we include issues of Capital Flight, Tax Eversion, Non-disclosure of Financial Transaction, Movement of Illicit Funds, Irregularity in Forex Transaction and movements could be easily identified and dealt with it. He advised the NLRC to identify areas of its operation that needed full integration to the NFIU systems. Mr. Tukur further expressed his optimism that NLRC/NFIU collaboration would greatly benefit both agencies and Nigeria.

However, this, of course, a welcome development to gaming operators in the country with the commission collaboration to curb unregulated gaming operators targeting players from the Nigerian gambling space, especially offshore betting companies, as this move will further give investors confidence in the Commission as well as attract more investors knowing full well their investment in the Nigeria gaming industry is secured.

In contrast, this move came about a few months ago when the Nigerian apex bank freeze specific lottery and betting company over irregularity of forex transaction in the country the continuous reforms and development programs the Commission as set out in recent time will of course further propel the Nigerian gaming industry as the go-to-market for investors in Africa.

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