Saturday, May 25, 2024
HomeCrimeNational Lottery Regulatory Commission Put Measures To Deter Money Laundering , Gbajabiamila

National Lottery Regulatory Commission Put Measures To Deter Money Laundering , Gbajabiamila

Ola Akinola

The National Lottery Regulatory Commission has put measures in place to deter money laundering, financing of terrorism, proliferation of weapons of mass destruction and other predicate offences in the lottery industry in its unrelenting effort to serve Nigeria and the industry better.

Director General of the Commission, Mr. Lanre Gbajabiamila made this known at the sideline of a workshop on Effects of Hate Speech, Fake News, Financial and Cyber crimes on National Security , held in Nassarawa , over the weekend.

The Director General who was represented by the Head of Public Affairs for the commission, Magnus Ekechukwu said , the new technology based measures are being attained through information and intelligence sharing with the relevant agencies and arms of government, 

Gbajabiamila added that the National Lottery Regulatory Commission (NLRC) under the leadership of Mr. Lanre Gbajabiamila had signed a Memorandum of Understanding (MoU) with the Nigerian Financial Intelligence Unit (NFIU) and the National Lottery Trust Fund (NLTF) for efficient and effective implementation of the measures.

He further stated, that since assumption of office, the Director General of the commission, Gbajabiamila has been methodically and successfully  introducing well thought out and sustainable policies and programs that have repositioned the 15 years old commission which are now engendering profound results in terms of revenue generation, promotion and protection of stakeholders including the stakers and most importantly supporting the Federal Government in its fight against corruption, terrorism and  insecurity, generally.

He explained that the objective of the recently signed MOU with the agencies was to strengthen and ensure transparency in the Nigerian Lottery industry; facilitate 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.

Gbajabiamila added that said the MOU would equally aid 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 and as well facilitate research and education measures to increase efficiency and staff exchange programs.

He said the commission was totally committed and dedicated to the war against corruption and insecurity being fought by the Federal Government and would spare no efforts in playing its part as a responsible and responsive commission of the government.

Gbajabiamila stated that the commission was also contributing significantly to the diversification of the economy being diligently executed by the government of President Muhammadu Buhari saying: “the National Lottery Regulatory Commission is gradually becoming a major source of revenue for the country. We are working hard on this and very soon, we shall become a major revenue earner for Nigeria.

“ You know we have already passed the billion Naira mark as against the less that 600M Naira revenue we were earning before ‘Mr. Lottery’, Gbajabiamila assumed office. With him, we shall get there, very soon.  Our commitment is total.”

- Advertisment -

Most Popular

Recent Comments