The National Lottery Regulatory Commission has introduced stringent measures to deter money laundering, financing of terrorism, the 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.
Mr. Magnus Ekechukwu, Head of Public Affairs for the commission, said essentially, the new technology-based measures are being attained through information and intelligence sharing with the relevant agencies and arms of government.
Ekechukwu spoke to journalists at the sideline of a workshop on the Effects of Hate Speech, Fake News, Financial, and Cybercrimes on National Security in Nassarawa on behalf of the Director-General of the Commission, Mr. Lanre Gbajabiamila, over the weekend.
Ekechukwu disclosed that the National Lottery Regulatory Commission under the leadership of 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 told journalists that since assumption of office, the Director-General has been methodically and successfully introducing well thought out and sustainable policies and programs that have repositioned the 15 years old commission which is 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.
The Lottery Commission’s spokesperson explained that the objective of the recently signed MOU with the agencies was to strengthen and ensure transparency in the Nigerian Lottery industry; 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.
Furthermore, Ekechukwu 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.