Lagos: The Minister of Special Duties and Intergovernmental Affairs, Mr. Bitrus Jisalo, has stressed the need for a comprehensive system to regulate Nigeria’s gaming industry to boost revenue generation. Jisalo also called for collaboration between operators and regulators in the industry. The Minister said this during the National Lottery Regulatory Commission (NLRC) Stakeholders’ meeting and management retreat on Monday in Lagos.
According to News Agency of Nigeria, Jisalo emphasized that to achieve this, a robust system was necessary, noting that Nigerians must adopt a more responsible approach to gaming. The minister said that by doing so, a culture of respect, understanding, and collective growth could be promoted. Speaking about the stakeholders meeting, he said the focus was to collaborate and discuss ways of boosting revenue generation in the industry.
In his welcome address, the Director-General of NLRC, Mr. Lanre Gbajabiamila, said the meeting was designed not only to inspire but to educate stakeh
olders. Gbajabiamila added that the meeting aimed at fostering collaboration and understanding among various stakeholders in the industry. He highlighted the aim to address and correct misconceptions about the industry in Nigeria, ensure responsible gaming, and protect under-aged players.
Gbajabiamila explained that by bringing together representatives from various sectors, including advertising, security, taxation, and gaming, the meeting sought to create an interactive environment where challenges could be discussed and solutions developed. The emphasis on responsible gaming and proper use of revenue indicates a commitment to ethical practices and community welfare. Overall, the goal is to improve the industry collectively, encouraging operators while ensuring that regulators understand their role in facilitating a healthy gaming environment.
Making a presentation on advertising, Dr. Olalekan Dolapo, the Director-General of the Advertising Regulatory Council of Nigeria (ARCON), stated that the advertising
industry was properly regulated globally. Dolapo stressed the need for Nigeria to take proactive steps in regulating online materials and gaming organizations. He explained penalties paid by some offenders in developed countries and efforts of ARCON in meeting current regulatory standards.
Dolapo elaborated on the importance of principles of practicing advertising, regulating media, local content creation policy, and digital media regulation for a better economy, among others. He highlighted the responsibility of the council to regulate the advertising industry in the interest of Nigeria, ensuring that advertising concepts and materials are vetted as part of ARCON’s oversight functions to prevent broadcast of content that could cause disharmony or disunity in society.
Mr. Tosin Adeyanju, the Chief Executive Officer of the National Lottery Trust Fund, urged operators to make appropriate payments to avoid getting sanctions from the Economic and Financial Crimes Commission (EFCC). Adeyanju noted that the money
remitted by the operators was channeled towards the betterment of the country and mentioned that President Bola Tinubu had initiated a revenue assurance platform with the implementation committee working on digitalizing the remittances in the industry.
Operators, including Olafadeke Akeju of WYS Solicitors, Legal Advisors to the Association of Nigerian Bookmakers, requested that regulators consider the size of operators’ businesses while implementing remittance laws. They also requested special preference for operators who had adopted cybersecurity measures.