FG Moves To Recover Over N100bn Revenues From Lottery Sector

The Minister of Special Duties and Inter-Government Affairs , Senator George Akume, has said efforts are underway to recover the backlog of over N100 billion revenues due for government from the lottery sector.

The minister disclosed this at the virtual official inauguration and handing over of vital medical equipment funded by the National Lottery Trust Fund to the Federal Medical Centre (FMC) in Yola, Adamawa State

Akume explained that it is on that note that the federal government has re-affirmed its commitment for the immediate take-off and deployment of the Central Monitoring System having been identified as a viable option to remove all inefficiencies in the lottery industry.

He said the government is at the same time strengthening the capacity of the two agencies created under the National Lottery Act 2005 (i.e. the National Lottery Regulatory Commission and the National Lottery Trust Fund) to exercise their statutory responsibilities, curtail revenue losses to government estimated to about N100billion in the last 14 years.

Akume added that the monitoring team would ensure prompt remittance from operators and permit holders in line with the extant law.

“I will like to charge licencees and permit-holders to without further delay pay-up their outstanding liabilities or risk the revocation of their licences and permits.

“Accordingly, all persons and organisations licenced to engage in national lottery business should be ready to meet up with their statutory obligation to avoid being sanctioned.

“Consequently, the government is committed to ensuring that returns obtainable from other non-oil sources of revenues are maximised, hence lottery is one of such alternative revenue sources that this government has identified and is determined to make it more productive and sustainable,” he said.