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The Changing Face of Lottery and Gaming in Nigeria

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The Changing Face of Lottery and Gaming in Nigeria

The Changing Face of Lottery and Gaming in Nigeria

By Olumade Akanni

Lottery is a legalised and regulated gaming that involves the drawing of numbers for a prize. While lotteries are outlawed by some governments, others endorse it. They even organise national and/or state lotteries.

Unlike betting or gambling which can involve very high stakes, Lottery (Lotto) is mostly a form of entertainment as it involves staking as low as N20 to N100 for very high rewards. It is fun, entertaining and can be very rewarding

It goes without saying that gambling benefits only those directly involved, whereas the proceeds of regulated lottery have been used in many countries for developmental purposes.

As far back as 20BC when the barbarians attacked China and the Chinese Government did not have enough money to build up their defence, they ran a lottery and raised enough money to build up their defences, including the Great Wall of China, one of the Seven Wonders of the World.

Lotteries in colonial America played a significant part in the financing of both private and public ventures. It has been recorded that more than 200 lotteries were sanctioned between 1744 and 1776, and played a major role in financing roads, libraries, churches, colleges, canals, bridges. In the 1740s, the foundation of Princeton and Columbia Universities was financed by lotteries, as was the University of Pennsylvania by the Academy Lottery in 1755.

In South Africa, for instance, 82 percent of the population play lottery, at least, once in a week. In 2012 alone, lottery share of funds to the country’s finances was put at about N141.3 billion.

In Niger Republic, proceeds of lottery were used to build boreholes, fight against desert encroachment, while the many of the lottery winners are sponsored to Mecca to perform the Holy Pilgrimage.

Driven by the spirit of tapping into this viable social economic potential, the Nigerian government via the National Lottery Act of 2000, established the National Lottery Regulatory Commission [NLRC].

According to section 57 of the Act, ‘’Lottery’’ or Lotteries’’ includes any game, scheme, agreement, system, plan, promotional competition or device for the distribution of prizes by lot or chance , or as a result of the exercise of skill and chance or based on the outcome or sporting events, or any other game, scheme, agreement, system, plan, competition or device.

Since its establishment, the commission has issued licences and permits to lottery operators and promoters to grow the market and bring lottery closer to the people.

Lottery is gaining wide acceptance and the huge followership of football in the county has further widened the scope.

This in turn has opened up series of market opportunities in the country for investors, individuals and government. Lottery and other gaming outfits have opened up business and employment opportunities especially for youths. Some open up shops as agents while some are employed to work in these shops. Many unemployed youths who roam the street see lottery and gaming shops as offices. Many of them survive on their little winnings with losers having hope of being winners on subsequent entries.

The global lottery industry is estimated to worth $70 billion. In 2016, it was estimated that Nigerians spent an average of N154bn daily on betting with 7.5 million lottery, and 22 million sports betting players in the country.

According to the National Lottery Regulatory Commission (NLRC), projected profit from the promo lottery alone is N45 billion.

The SMS lottery can generate about N150 billion revenue, while gaming industry is projected to bring over N300 billion to federal government coffers annually.

However, the prospect has not been fully exploited. The industry was only able to yield N7 billion as of 2016.

Today, Nigerians are being advised by the National Lottery regulatory Commission to invest and engage in regulated lottery, as it gives them a platform to contribute to national development while they stand a chance of having a life changing experience via a jackpot.

In the recent past, several betting and lottery companies have acquired licences to operate in the country. One of such is Western Lotto which is entering the Nigerian market with a game changing lottery initiative. The company is introducing pari mutual gaming platforms that offer Nigerians the experience of two of the most exciting lottery brands, namely the Lotto Race and the 6/49, otherwise known as the UK Lotto, among others. Western Lotto is introducing these games as a means of offering adventurous platforms for the gaming public to participate and win big.

While the Lotto Race offers daily winnings, the UK Lotto would have weekly jack pot winners of between N10million to N15million.

Western Lotto’s unique offerings also come with the ease of play. Just pick your six (6) numbers correctly, and you are on your way to winning the jack pot. However, if you match three (3) numbers, you start winning. The games can played via USSD, mobile apps, online, shops and terminals.

On winning, Western Lotto says when anyone wins on any of its gaming platforms, such a person will be notified immediately. He will get a text or email confirming the winning. And a winning code can be paid via the Automated Teller Machine (ATM) of Quick teller (for smaller amounts), or just a walk into any bank branch can redeem such winnings. However, if anyone wins big, he will be given a VIP reception at Western Lotto’s Head Office on Victoria Island, Lagos, where he will be paid or state however he wants to be paid.

The Western Lotto gaming platform is targeted at positive, upbeat, optimistic people who although do not have a lot of money in the now, believe that they are just one game away from making it big.

The increasing acceptance of gaming among Nigerians is an indication that the industry will be one of the major contributors to Nigeria’s economy in the nearest future. And as the government continues to encourage investment in the industry from local and foreign investors such as Western Lotto, the economic horizon will surely continue to broaden, thus providing a fertile ground for social growth and economic empowerment of Nigerians.

Experts have argued that the development of a nation is not only tied to available human capital but equally on its social and economic resources. According to the experts, several developed countries have consolidated on these natural endowments through Lotteries to re-write their history and establish sound economic footing worthy of emulation by the global community.

Lottery, as it has been proved repeatedly, is a social culture that has positively changed the economic fortunes of several nations. These days, the lottery business has also gained acceptance as a growing source of special intervention fund for governments which continue to work out innovative sources of funding alternatives to raising taxes when there are needs to address perceived infrastructural deficits.

Olumade Akanni is the Director of Strategy at the Citizens Advocacy for Social Emancipation, FCT, Abuja.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via dipo.olowookere@businesspost.ng

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Registration Requirements For Business Entities In Nigeria

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Successful Small Business

By Benita Ayo

Registering a business venture is oftentimes the best and wisest move an entrepreneur should always take before launching out. The reason for this is not far-fetched.

In most situations, when an entrepreneur fails to register his business prior to its commencement, the desired business name may become subject to disapproval whenever he chooses to register the business at a later date.

This is one reason why it is strongly advised that a business undergoes the necessary registration with the Corporate Affairs Commission (CAC).

Let it be known that it is never enough to simply register a business and retreat. There are still things the law expects a business owner to do after registration of a business with the CAC.

For instance, every business entity, such as (Limited Liability Company (Public or Private), Limited Liability Partnership (LLP), Limited Partnership (LP), Business Name (BN), Incorporated Trustees (IT) etc, are all expected to file the Annual Returns of their businesses on or before the 30th June of each fiscal year. Failure to do this attracts penalties for default.

In extreme circumstances, where a business entity has failed to file its Annual Returns for consecutive years, the entity’s profile with the Corporate Registry will be deemed inactive.

In sum, while most business entities continue to transact their businesses unabated, a check on their profiles at the Corporate Registry will reveal that such businesses are, in truth, inactive.

A company whose Corporate Profile is ‘inactive’ is on the watch list of the CAC for de-listing.

You may contact me via the under-listed channels for further consultations on the following services;

  • Business/Company Registrations
  • Annual Returns filing
  • Re-activation of ‘inactive’ corporate profiles
  • Corporate Profile search etc.

WhatsApp: +2348063775768

Email: jaybella120@gmail.com

Benita Ayo is a Seasoned Corporate Commercial Counsel with over nine years of post-call experience. She has handled myriads of briefs in Corporate/Commercial, Employment Law as well as Property Transactional Practice.

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Checkmating The LGBT Incursion In African Politics: The Nigerian Case Study And Consequences

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LGBT

By Kwame lbrahim

The number of Lesbians, gays, bisexuals and transgender (LGBT) persons in Nigeria, though largely undocumented officially, has continued to rise exponentially, especially among teenagers, youths and adults.

According to several projects related to fact-finding research and spontaneous polls conducted in some institutions of higher learning and amongst clusters of young people in social media groups and platforms, this is common everywhere but more pronounced in cities of Lagos, Kano, Port Harcourt, Sokoto, Abuja, Maiduguri, Ibadan, Kaduna and Owerri.

This is even spreading all over the country at a growing rate despite the legal statutes and social responses, which have clearly red-flagged the queer preference and defined homosexuality as illegal in Nigeria and punishable by up to 14 years of prison in the conventional court system.

Nigeria is a largely conservative country, and the very Western proclivity towards openly embracing gay rights and LGBT penchants are deemed not only as anathema but also an unacceptable negation and disrespect for the very foundation on the mores and decency which its cultural, religious, traditional and secular communal existence have been built and have continued to thrive over the years.

As Nigeria evolves into a more post-modern and more globalized society, credible findings have revealed that the fundamental threat that this surge in queer attitude poses for its secularity is disturbingly manifest in the deliberate and determined effort by LGBT advocates to take over the political, legislative process in its 2023 elections.

The basic aim of such financiers is to subsequently secure sufficient representatives in its National Assembly to push for and promulgate the law legalising and legitimizing homosexuality.

In the past, such an attempt was resisted by communities in Kenya through the support of community leaders and its government, but the Nigerian situation seems different because of the present unholy silence that has greeted many aspirants for senatorial and House of Representative positions of some political parties that have well known LGBT sympathizers and practitioners as their candidates.

This is indeed a worrisome phenomenon which, if allowed to become a reality, will not only erode the very fabric of Nigeria’s original existential identity but would dangerously affect the acceptable balance of decency and straight relationship, which have been the hallmarks of a majority of traditional families in Nigeria and Africa.

There is no gainsaying the fact that Nigeria society will be confronted with dire consequences if this queer LGBT advocacy gains traction in its National Assembly, especially when such a law would embolden the gays and lesbians to openly challenge and even violently rubbish any real or perceived rational and normal counter-argument against this quite uncharacteristic behaviour in its society.

Furthermore, there is no doubt whatsoever that a law legitimizing LGBT tendencies would result in uncontrolled homophobia, which will radically disrupt peaceful existence and dislocate many straight people, who will be subjected to unprovoked assaults by those gloating to endorse the new legislation on the streets, schools, bars and restaurants, churches and other places where the need to impose the law would be deemed necessary and patriotic.

This sad intent through politics by introducing and sponsoring LGBT members into the National Legislative System of Africa’s most populous Nation will, of course, come at a great social, existential cost and unleash in its wake major destructive consequences to all African societies, the Nigerian nation and most developing communities of the world.

Against the backdrop of an anticipated backlash of violent and berserk orgies of unprovoked violence by members of the LGBT community, who had hitherto felt constrained, the need to sensitise the general public through the various channels of communication becomes highly recommended and inevitable, especially in recognition of the fact that this behaviour and the attendant defensive fightback, will definitely escalate if such is not checked at this 2023 election period in Nigeria.

All well-meaning Nigerians must act swiftly at this point of the electoral and voting process, where all the gains already achieved from the existing bill prohibiting and stipulating penalties for such queer practices can be reversed if they allow the pro-gay and LGBT sympathizers to dominate the National Assembly with their presence as elected Representatives as they would have a voice on the floors of the two parliaments to destroy its moral standards and religious beliefs.

The accommodation, maturity, peaceful, harmonious coexistence and decency which exist in Nigerian society would all be eroded once the legislation to legalise same-sex and LGBT relationships are achieved. A stitch in time saves nine. This is a time for community, traditional and religious leaders to speak up. This is the time for the electorate to grow in proper awareness of the consequences of making inappropriate choices.

Already, findings from credible investigations conducted to ascertain the next strategic ploy by the Queer community to accomplish the deliberate agenda of forcing legislation that would favour their cause indicate that the LGBT community in Nigeria has set its target at producing twenty House of Representative members from four states, namely: Sokoto, Kano, Rivers and Lagos, during the 2023 election.

In states where party tickets could not be secured in the two major political parties, sympathetic aspirants were sponsored with huge amounts of funding to join fresh parties with the clear intent to attract followers, which is a major catalyst for political mobilisation in a country like Nigeria.

Specifically, Kano, Lagos and Rivers states are said to have recorded huge success for this aspiration. However, the extent to which these plans work out would largely depend on the acceptance or rejection of these aspirants by the level of awareness created for the voting public, especially through their leaders.

Kwame lbrahim, PhD, is from the African Research Institute and Doctoral School of Safety & Security Services, Budapest, Hungary

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Buying Naira with Naira, Rantings And Musings

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the new Naira notes

By Prince Charles Dickson PhD

Under pressure we wail under pressure, under pressure black people under pressure, under pressure Nigerians under pressure. No food in we belly, no money in ah we pocket, no bed we lay we head.

The people dem are suffer, in ah ghetto, in ah city, everywhere dah me go oh, me see them, some are cry, some are die, some are weeping! Some are wailing! Everywhere dah oh eh. Under pressure we wail under pressure, under pressure everybody under pressure, Ras Kimono Under Pressure

You see the Nigerian looks upon Nigeria as a theatre and the entire population representing and manifesting the full spectrum of acts and actors. In this revelry, life is the theatre; the nation is the stage upon which we perform. The politicians and a few of us are the actors, very often mediocre. When stars appear, it is more often because a play must have a star rather than because the player is possessed of some dramatic genius. We saw it with Obasanjo, we saw it with Mr Yar’adua, and with the shoeless one, we are seeing it with the soon-to-end Mr Buhari. We falter and we muff our lines; sometimes our performance takes on an aspect of the grotesque-nobody takes this seriously because it is perceived as being the nature of the play. Our people become the audience.

I once watched with bemusement a deaf and dumb boy who caught his mom with a stranger in bed. When his father came home, the poor young boy was at a loss on how to communicate his discovery. After several futile attempts, the boy ceased trying. The father, on the other hand, patted him, walked into the bedroom and was scolding the wife, he asked her why she was sick, rolling on the bed and could not call for help from the neighbours or the family doctor.

I am not going to talk about the currency redesign brouhaha, because as good a policy as it supposedly is, again, it has exposed the gross behavioural nature of some Nigerians. The central bank, the commercial banks, the bankers, the PoS Operators and the general populace are guilty of varying degrees of culpability.

And, then the fuel palaver, the same one that once upon a time Minister of Information and Culture, Lai Mohammed, said: “This is the winter period. There is always more demand for refined products from petroleum during winter in colder countries. This is what we are experiencing now.” Today, I guess it is winter in those places again. And at the black market, the usual trend, is certainly high petrol prices, unavailable and weak Naira, low minimum wage and increasing poverty.

Legislators are neither here nor there; governors’ are not sure where they stand. In all the noise the product disappears. Transportation fare increases, food prices skyrocket…a nation that has a disconnect between the ruled and its rulers, like the deaf and dumb boy, his mother, the stranger and his father.

The fact is, our currency wahala, and fuel palaver are not the government’s problem. What are we really subsidising? Is it the high cost of energy or unavailable petroleum products? Nigerians are tired, hungry and not in protest mode. There’s no fuel scarcity but fuel criminality because leadership lacks the will.

Where are the refineries promised, all gone with the wind called Turn Around Maintenance! There is no PMS in the fuel station, but unregistered marketers/blackmarkers all have the commodity… a continued rationalisation and justification of absurdities like a commentator put it. It is even more disheartening when the intellectual effort and voice of elites are at the heart of such theatricals due to ethnoreligious cleavages birthed by economic disenfranchisement.

Our major problem is the lack of leadership manifesting itself in every facet of our human endeavours. Some of these areas may be fixable in future if we get the right people with the right policies but how do you fix the future of the mass population of our children who are not getting educated today?

The future of Nigeria is bright, and interesting but scary if we reflect on it. Teachers are illiterate; students can’t go to school because schools are closed down, and alternatives are unaffordable, the change is bleak…

The fuel management chain is a lucrative cankerworm of corruption, our banking system is not exactly different, a serious government can yet tackle it, it’s beyond committees and white papers. It’s action; only action can stop the rot. Nigerians can, I believe we can but we don’t know that we can, and doubt if we are ready.

The reason is simple…we are not just part of the problem, in some cases, we are the problem, when Sunny Okunsun sang;

Which way Nigeria, which way to go? I love my fatherland, o yeah, I want to know; Yes, I want to know. I love my fatherland, which Nigeria is heading to? Many years after independence, we still find it hard to start. How long shall we be patient still we reach the promised land? Let’s save Nigeria, so Nigeria won’t die. Which way Nigeria? Every little thing that goes wrong, we start to blame the government. We know everything that goes wrong, we are part of the government.

Which way Nigeria is heading to? Inefficiency and indiscipline is ruining the country now; corruption here there and everywhere, inflation is very high. We make mistakes in the oil boom, not knowing that was our doom. Some people now have everything, while some have nothing. Which way Nigeria, which way to go?

I end with this encounter, a politician was charged with profanity for calling an opponent a bastard: the politician retorted, “When I call him s.o.b I am not using profanity. I am only referring to the circumstances of his birth”. What is the circumstance of the birth of Nigeria, can anything be done to bring destiny and fate to conjure up some good for us all?

The elites are having a field day, but with each fleeting moment, three facts of life beckon, the rising of the sun, the setting of the moon and truth, only time will tell.

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