Home | News | Lagos proposes N20m licence fee for lottery, betting operators
Obiano/monarchs rift: Alor traditional ruler apologises to Anambra Governor
Rivers risks total darkness as youths shut down Afam Plant, demand free 24-hour power supply

Lagos proposes N20m licence fee for lottery, betting operators





Lagos State House of Assembly says a bill to make operators of lottery, pools and betting pay N20 million as licence fees to the government is underway.

The legislature made this known at a public hearing on the bill in Lagos.

The bill is entitled; “Lagos State Lotteries and Gaming Authority Bill Arrangement of Sections”.

Deputy Speaker, Wasiu Sanni-Eshinlokun, explained that the new bill seeks to consolidate all the laws in the sector.

It will repeal existing laws such as the Lagos State Lotteries (Amendment) Law 2008, the Lagos State Lotteries Law (2004), and the Casino and Gaming Regulatory Authority Law (2007).

Others are Casino and Gaming Regulations (2007), Pools Betting Control Law (2003) and Pools Betting Tax Law (2003).

Eshinlokun said before a license is granted to an operator, “the authority shall be satisfied that the applicant is a registered company in Nigeria with a minimum share capital of N20million or as may be directed by the authority.”

The lawmaker said the bill addresses cybersecurity and urged the people to take it serious.

A stakeholder, Adebagun Nojeem, called for inclusion of gaming investors in the state’s Lottery Board.

Nojeem, however, appealed that the N20million share capital be reduced.

“It would have a retroactive effect on the companies that have been registered. Pool is a game of senior citizens. With the new capital base, we may go under.

“The 10 percent charges on sales should be reduced to about 2.5 percent. Penalty of N2.5 million should be reduced to N1million or N500,000 and the issue of imprisonment should be removed,” he said.

CLICK HERE TO READ MORE FROM: News Visit website



Loading...

view more articles

About Article Author

Chuka (Webby) Aniemeka
Chuka (Webby) Aniemeka

Chuka is an experienced certified web developer with an extensive background in computer science and 18+ years in web design &development. His previous experience ranges from redesigning existing website to solving complex technical problems with object-oriented programming. Very experienced with Microsoft SQL Server, PHP and advanced JavaScript. He loves to travel and watch movies.

View More Articles

100 Most Popular News

1 2 Displaying 1 - 100 of 122