NLRC introduces further measures in support of Nigerian industry

In an attempt to better serve the growing lottery industry in Nigeria, the National Lottery Regulatory Commission (NLRC) has introduced further measures which aim to deter money laundering, financing of terrorism, proliferation of weapons of mass destruction and other predicate offences.

As revealed by the commission’s head of public affairs Magnus Ekechukwu, the new technology based measures are being monitored thanks to information and intelligence sharing with the relevant agencies and arms of government. 

Ekechukwu disclosed that the NLRC has signed a Memorandum of Understanding (MoU) with the Nigerian Financial Intelligence Unit (NFIU) and the National Lottery Trust Fund (NLTF) that will see these measures implemented both efficiently and effectively.

The Lottery Commission spokesperson explained that the objective of the recently signed MoU was to strengthen and ensure transparency in the Nigerian Lottery industry. The deal is also set to facilitate the exchange of knowledge and expertise through training programs and promote a better understanding of economic and legal conditions relevant to the enforcement of applicable laws and statutes.

Ekechukwu also discussed how the MoU will aid in the establishment of a framework for the protection of lottery and financial stakeholders in relation to lottery- based activities undertaken by lottery operators and their partners. Moreover, it is also expected to facilitate both research and education measures that, in turn, will increase efficiency and staff exchange programs.

The NLRC’s head of public affairs also took time to praise the work of Director General Gbajabiamila who he credits for supporting the Federal Government in its fight against corruption, terrorism and insecurity.