Baba Ijebu, Bet9ja remit N1bn debt arrears to Lottery Commission

Baba Ijebu, Bet9ja remit N1bn debt arrears to Lottery Commission 2
National Lottery Trust Fund (NLTF)

By Rasheed Sobowale

The National Lottery Trust Fund (NLTF) has revealed that two lotto operators, Premier Lotto (a.ok.a Baba Ijebu) and KC Gaming (a.ok.a Bet9ja), have remitted a complete of N1 billion to the federal authorities.

Mr Dele Oyewale Head, Media & Publicity of the NLTF stated the funds by the lotto firm was arrears of debt they owed because of “either neglect or refusal to remit 20 per cent of their turnover to the government through NLTF as required by law”.

“Section 24(3) of the National Lottery Act 2005 states that “a licensee shall pay to the Trust Fund, established under Section 35 of this Act, within a period of not more than 90 days after the determination of the result of each lottery, an amount of 20 per cent of the proceeds of the lottery for the first 5 years of the licence, 25 per cent in the subsequent 5 years and thereafter 27.5 per cent.”

Describing the prior act of non-compliance by the lottery firms as “economic sabotage”, Oyewale stated; “A breakdown of the payments showed that Premier Lotto (Baba Ijebu) remitted N833,333,494.58, while KC Gaming (Bet9ja) remitted N166,666,827.92, totalling N1billion.”

“We are happy to report that as a result of diligent execution of the on-going strategic engagement between the NLTF, NLRC and the EFCC, restoration of unremitted charges by some lottery operators has been made.

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“The board and management of NLTF wish to convey our appreciation for your patriotic intervention in ensuring the immediate recovery of government’s due remittances for good causes.”

Oyewale stated the Commission had obtained a petition from Senator George Akume of the supervising Ministry of Special Duties and Inter-Governmental Affairs, dated January 20, 2020.

Senator Akume had noticed that “since the inception of lottery business in Nigeria in 2007, only over N9 billion has been remitted into the federal government coffers till date,” a improvement he described as “totally unacceptable to the present administration.”

Oyewale stated the Lottery Commission after receipt of the petition made efforts to recuperate the excellent money owed owed the federal authorities by these lotto operatives however all efforts had been to no avail.

Therefore, the ministry was left with no choice than to attract the eye of the EFCC to help in that regard.

Vanguard News Nigeria.

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Baba Ijebu, Bet9ja remit N1bn debt arrears to Lottery Commission

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