30th January, 2020
The National Lottery Regulatory Commission (NLRC), in furtherance of its efforts to strengthen its regulatory functions in the sector, has issued new directives to all licensed lottery operators.
In a press release Thursday by the Director General, Mr. Lanre Gbajabiamila, the Commission directed operators to disclose all their indoor games with immediate effect, and that the agency fee payable to agents should not be more than 25%, among other guidelines.
“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 further cautioned lottery operators not to have more than one gaming platform, as well as use unknown names other than that which they were registered with. According to the release, operators also directed to remit all outstanding payments to the Federal Government without further delay.
“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,” the NLRC said.
The Commission, while advising operators to adhere strictly to the new guidelines, further requested them to submit the following not later than Friday 14th February 2020; the list and a full description of indoor games; the company account details (not necessarily with balances); the gaming platform through which lottery is processed (for both technical and software providers); Monthly operation reports in the last three years; audited accounts in the last 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.