47 Firms Regularise Operations With NLRC

  • Sun, 29 Jul 2012 20:24:29 -0600 - Nigerian Tide
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The Director General of the National Lottery Regulatory Commission, Mr Peter Igho, says about 47 companies had regularised their operations with the commission.

Igho said this in an interview with newsmen  in Abuja last week.

He said that the commission recognised only companies and organisations that had regularised their operations with the commission.

He warned companies and establishments not to violate lottery regulations, stressing that abuses in lottery business must be corrected.

Igho said that the commission had been monitoring organisations that had regularised their operations to ensure they did not cheat people.

“We want to ensure that organisations work with fair play, honesty, integrity and transparency in the lottery business,’’ he said.

He said that the commission had the power to revoke the licence of any operator that violates lottery rules.

Igho said that it was the responsibility of the commission to issue licence and permits as well as set standards and guidelines for the operation and lottery business.

“It is also our duty to carry out periodic assessment of the operation of the lottery and submit reports to the President and the National Assembly.

He said that the commission also ensured “accurate monitoring and assessment of proceeds accruing to operators to determine the value of the 50 per cent prize money and ensure 20 per cent contribution to the Trust Fund.’’

According to him, any person that has registered with Corporate Affairs Commission with a sound mind and the required capital base can apply for a right.

He said that the commission would inspect the business premises and equipment to decide whether to grant the application or not.

The director general also said commission had enforcement and compliance unit that attend to all public complaints with the aim of resolving issues amicably.

The commission was established by the National Lottery Act of 2005.

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