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Lottery Commission Sets New Guidelines For Operators

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The National Lottery Regulatory Commission (NLRC), has issued new directives to all licensed lottery operators as a measure to regulate the function of the sector.

In a statement by the Director-General of the commission, Mr. Lanre Gbajabiamila said that the agency fees for agents would be 25% while adding that agents should disclose all their indoor games as soon as possible.

“All operators should immediately disclose all their indoor games and the agency fee payable to agents should not be more than 25%; No operator is allowed to maintain more than three accounts in any particular bank, and in not more than two banks in respect of the company for which the license was granted,” the statement read in part.

The Commission also warned against having more than one gaming platform and the late remittance of money to the federal government.

“No operator should operate more than one gaming platform. All platforms and additional platforms must be reported and registered by the Commission, including those of technical and software providers.

“No operator shall use unknown names, or any name other than the name on which license was granted to process lottery proceeds,” NLRC said.

The Commission also urged all agents to submit the full description of indoor games, company account details, the gaming platform through which lottery is processed, monthly operation reports in the last three years, audited accounts over the previous three years, CAC Annual Returns filed in the past three years, Company Tax Clearance in the last three years, and evidence of up to date Annual Subscription payment from the inception of the license to date.

 

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