Lagos proposes N20m permit expense for lottery, wagering administrators

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Lagos State House of Assembly says a bill to make administrators of lottery, pools and wagering pay N20 million as permit expenses to the legislature is in progress.

The assembly made this known at a formal proceeding on the bill in Lagos.

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

Delegate Speaker, Wasiu Sanni-Eshinlokun, clarified that the new bill tries to combine all the laws in the area.

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It will revoke existing laws, for example, 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 permit is allowed to an administrator, “the authority will be fulfilled that the candidate is an enrolled organization in Nigeria with a base offer capital of N20million or as might be coordinated by the power.”

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The official said the bill tends to cybersecurity and asked the individuals to take it genuine.

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A partner, Adebagun Nojeem, called for consideration of gaming financial specialists in the state’s Lottery Board.

Nojeem, notwithstanding, claimed that the N20million share capital be decreased.

“It would retroactively affect the organizations that have been enrolled. Pool is a round of senior residents. With the new capital base, we may go under.

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“The 10 percent charges on deals ought to be diminished to about 2.5 percent. Punishment of N2.5 million ought to be diminished to N1million or N500,000 and the issue of detainment ought to be expelled,” he said.

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