The National Lottery Regulatory Commission (NLRC) has moved to contribute significantly to the federal treasury as it revealed that it has developed a new strategy to boost its revenue collection.
The new strategy by the commission which is known as the ‘Central Monitoring System’ will boost the government’s efforts in diversifying its sources of revenue, especially at this critical time.
According to a statement issued on behalf of the Director-General of NLRC, Mr Lanre Gbajabiamila, the spokesman of the commission, Magnus Ekechukwu, said that the strategy would ensure that all earnings due to government on lottery were collected with precision.
He said the strategy would plug loopholes and drainages in the lottery business.
Gbajabiamila was quoted as saying, “With the arrangements being put in place, lottery will soon be contributing significantly to the federal treasury as it has done in countries like America, the United Kingdom and Spain.’’
He disclosed that the management and staff members were already trained for a successful outcome of the new plan adding that arrangements had also reached an advanced stage to establish an indigenous National Game with all the benefits of higher revenues for the government.
He assured that the game would provide greater dividends for players and profound growth for the industry generally.
Going further, he said, “We have remained tirelessly ingenious in engendering improved revenue earnings and entrenching a better lottery business in all ramifications.’’
The National Lottery Regulatory Commission is the body that regulates lottery activities in Nigeria and was established through the National Lottery Act of 2005.
The Commission was primarily born out of the need to regulate the operations of the lottery business, promote transparency and accountability and protect the interests of players, stakeholders and the general public.