Economy
Australian Sportsbook Fined for Targeting Problem Gambler
Newly launched Betr, an Australian online casino, and sportsbook has been found to have violated the Northern Territory online gambling code of conduct by targeting a self-excluded problem gambler. Despite being on the Northern Territory self-exclusion register, the player, known as Mr. M, was contacted by Betr via phone and text message, offering him the opportunity to open a new account on their site for the upcoming Melbourne Cup. As a result of this breach, the Northern Territory Racing Commission has fined Betr a sum of AU$ 20,655.
The story was heard nationwide, and countless anti-gambling advocates had their say. The CEO of the Alliance for Gambling Reform, Carol Bennett, urged officials to pull the green light on the national self-exclusion register.
The national self-exclusion register was developed and legislated to prevent these types of problems from happening, and it should have been implemented years ago. Bennett also added that the federal government should prioritize implementation as soon as possible to protect problem gamblers better.
Northern Territory Self-Exclusion Register
The NT self-exclusion register allows every player from Australia to self-exclude themselves from every gambling site that is licensed by the Northern Territory. The exclusion period can last days, weeks, months, years, or indefinitely.
Because Betr is licensed by NT, they also have to follow and stick to every rule and regulation that the NT requires. The NT gambling code of conduct is pretty clear that all players who voluntarily self-excluded shouldn’t be contacted by gambling operators, no matter what type of material they are promoting.
According to the NT Racing Commission, Betr has access to the complete list of players who are part of the self-exclusion register, and records show that they received this list. Initially, Betr did not comment on the case when it first came to light. However, there are reports suggesting that the two representatives from Betr who contacted Mr. M used outdated documents that did not reflect the player’s current status on the self-exclusion register.
The Breach
Reportedly, representatives from Betr contacted Mr. M between October 5th and October 10th. It is worth noting that Betr had only launched shortly before these calls and text messages were sent, which suggests that their representatives may not have had access to the full customer database that includes self-excluded players at the time. The aftermath of this incident saw officials of Betr contact all of its representatives and staff to specifically tell them to do clear checks of the database and verify that the customer isn’t on the self-exclusion register before sending any promotional material.
The Northern Territory Racing Commission released a statement indicating that, while Betr may be a newly established online gambling platform, its senior managers and staff members are not new to the iGaming industry. The CEO of Betr, Andrew Menz, previously served as the CEO of BetEasy and therefore has significant experience in the field and knowledge of the regulations and guidelines set by the commission for obtaining a license.
The Commission also added that the lack of leadership was the main problem, and even though with years of experience in the field, senior management somehow allowed employees to contact players without even considering they might be on the self-exclusion register’s list.
The Nation Self-Exclusion Register
Australian gamblers have been eagerly anticipating the implementation of the National self-exclusion register for nearly four years. The register was a component of the National Consumer Protection Framework for Online Wagering, which was legislated by the federal government in 2019. The responsibility for launching the register falls to the Australian Communications and Media Authority, but they have only made an announcement about BetStop and haven’t made much progress since then.
Final Thoughts
There have been additional instances of online bookmakers and casinos sending promotional material to players who have already self-excluded in the Northern Territory, as reported by the Alliance of Gambling Reform. They argue that the implementation of the national self-exclusion register should be a minimum measure taken by the government to prevent such incidents, similar to the case of Mr. M.
But, Communication Minister Michelle Rowland has emphasized that thorough security evaluations must be carried out before the National Self-Exclusion Register may go live. With over 100 Australian online casinos and sportsbooks sending millions of customer details to the register, adequate cybersecurity and data protection is critical for the safety and security of personal and banking information. It remains to be seen whether the essential steps will be implemented.
By Adedapo Adesanya
The United Kingdom via the British High Commission in Abuja has launched two flagship economic reform programmes – the Nigeria Economic Stability & Transformation (NEST) programme and the Nigeria Public Finance Facility (NPFF) -as part of efforts to support Nigeria’s economic reform and growth agenda.
Backed by a £12.4 million UK investment, NEST and NPFF sit at the centre of the UK-Nigeria mutual growth partnership and support Nigeria’s efforts to strengthen macroeconomic stability, improve fiscal resilience, and create a more competitive environment for investment and private-sector growth.
Speaking at the launch, Cynthia Rowe, Head of Development Cooperation at the British High Commission in Abuja, said, “These two programmes sit at the heart of our economic development cooperation with Nigeria. They reflect a shared commitment to strengthening the fundamentals that matter most for our stability, confidence, and long-term growth.”
The launch followed the inaugural meeting of the Joint UK-Nigeria Steering Committee, which endorsed the approach of both programmes and confirmed strong alignment between the UK and Nigeria on priority areas for delivery.
Representing the Government of Nigeria, Special Adviser to the President of Nigeria on Finance and the Economy, Mrs Sanyade Okoli, welcomed the collaboration, touting it as crucial to current, critical reforms.
“We welcome the United Kingdom’s support through these new programmes as a strong demonstration of our shared commitment to Nigeria’s economic stability and long-term prosperity. At a time when we are implementing critical reforms to strengthen fiscal resilience, improve macroeconomic stability, and unlock inclusive growth, this partnership will provide valuable technical support. Together, we are laying the foundation for a more resilient economy that delivers sustainable development and improved livelihoods for all Nigerians.”
On his part, Mr Jonny Baxter, British Deputy High Commissioner in Lagos, highlighted the significance of the programmes within the wider UK-Nigeria mutual growth partnership.
“NEST and NPFF are central to our shared approach to strengthening the foundations that underpin long-term economic prosperity. They sit firmly within the UK-Nigeria mutual growth partnership.”
By Aduragbemi Omiyale
A strategic partnership aimed at accelerating the growth, digital capacity, and sustainability of Nigeria’s 40 million Micro, Small and Medium Enterprises (MSMEs) has been signed by MTN Nigeria and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN).
The collaboration will feature joint initiatives focused on digital inclusion, financial access, capacity building, and providing verified information for MSMEs.
With millions of small businesses depending on accurate guidance and easy-to-access support, MTN and SMEDAN say their shared platform will address gaps in communication, misinformation, and access to opportunities.
At the formal signing of the Memorandum of Understanding (MoU) on Thursday, November 27, 2025, in Lagos, the stage was set for the immediate roll-out of tools, content, and resources that will support MSMEs nationwide.
The chief operating officer of MTN Nigeria, Mr Ayham Moussa, reiterated the company’s commitment to supporting Nigeria’s economic development, stating that MSMEs are the lifeline of Nigeria’s economy.
“SMEs are the backbone of the economy and the backbone of employment in Nigeria. We are delighted to power SMEDAN’s platform and provide tools that help MSMEs reach customers, obtain funding, and access wider markets. This collaboration serves both our business and social development objectives,” he stated.
Also, the Chief Enterprise Business Officer of MTN Nigeria, Ms Lynda Saint-Nwafor, described the MoU as a tool to “meet SMEs at the point of their needs,” noting that nano, micro, small, and medium businesses each require different resources to scale.
“Some SMEs need guidance, some need resources; others need opportunities or workforce support. This platform allows them to access whatever they need. We are committed to identifying opportunities across financial inclusion, digital inclusion, and capacity building that help SMEs to scale,” she noted.
Also commenting, the Director General of SMEDAN, Mr Charles Odii, emphasised the significance of the collaboration, noting that the agency cannot meet its mandate without leveraging technology and private-sector expertise.
“We have approximately 40 million MSMEs in Nigeria, and only about 400 SMEDAN staff. We cannot fulfil our mandate without technology, data, and strong partners.
“MTN already has the infrastructure and tools to support MSMEs from payments to identity, hosting, learning, and more. With this partnership, we are confident we can achieve in a short time what would have taken years,” he disclosed.
Mr Odii highlighted that the SMEDAN-MTN collaboration would support businesses across their growth needs, guided by their four-point GROW model – Guidance, Resources, Opportunities, and Workforce Development.
He added that SMEDAN has already created over 100,000 jobs within its two-year administration and expects the partnership to significantly boost job creation, business expansion, and nationwide enterprise modernisation.
By Adedapo Adesanya
The Nigerian Exchange (NGX) Limited is seeking review of the controversial Capital Gains Tax increase, fearing it will chase away foreign investors from the country’s capital market.
Nigeria’s new tax regime, which takes effect from January 1, 2026, represents one of the most significant changes to Nigeria’s tax system in recent years.
Under the new rules, the flat 10 per cent Capital Gains Tax rate has been replaced by progressive income tax rates ranging from zero to 30 per cent, depending on an investor’s overall income or profit level while large corporate investors will see the top rate reduced to 25 per cent as part of a wider corporate tax reform.
The chief executive of NGX, Mr Jude Chiemeka, said in a Bloomberg interview in Kigali, Rwanda that there should be a “removal of the capital gains tax completely, or perhaps deferring it for five years.”
According to him, Nigeria, having a higher Capital Gains Tax, will make investors redirect asset allocation to frontier markets and “countries that have less tax.”
“From a capital flow perspective, we should be concerned because all these international portfolio managers that invest across frontier markets will certainly go to where the cost of investing is not so burdensome,” the CEO said, as per Bloomberg. “That is really the angle one will look at it from.”
Meanwhile, the policy has been defended by the chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Mr Taiwo Oyedele, who noted that the new tax will make investing in the capital market more attractive by reducing risks, promoting fairness, and simplifying compliance.
He noted that the framework allows investors to deduct legitimate costs such as brokerage fees, regulatory charges, realised capital losses, margin interest, and foreign exchange losses directly tied to investments, thereby ensuring that they are not taxed when operating at a loss.
Mr Oyedele also said the reforms introduced a more inclusive approach to taxation by exempting several categories of investors and transactions.
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