The Central Gaming Bill has passed the second reading recently by the Nigerian House of Representative. The Bill is aimed at creating a comprehensive and harmonized regulatory framework for online and remote gaming that transcends state boundaries and extends beyond the country’s borders.
One should recall that the Supreme Court few months back ruled in favor of the state on the power tussle between the state and federal National Assembly and which should regulate lottery and game of chance. The Supreme Court ruled that lottery and game of chance falls under the Residual Legislative list therefore it is for the state to regulate.
However, the Federation of State Gaming Regulators (FSGR) is against the Central Gaming Bill; they argued that the Bill undermines the states authority and that the state should be in control all gaming operations (both online and retail). The body also claims that the Bill contradicts the previous ruling of the Supreme Courts.
The Bill was sponsored by the Deputy Speaker of the House, Hon, Benjamin Kalu including six other lawmakers with the proposed legislation for revenue enhancement for the federation and for other related matters.
Leading the debate on the Bill, Hon. Salam Bamidele stated that “The Bill provides a clear legal foundation for the conduct of gaming activities within the Federal Capital Territory (FCT), where the federal government retains regulatory authority”. He also added that “By harmonizing federal and state interests, we can resolve existing jurisdictional conflicts, provide regulatory certainty, and enhance investor confidence in Nigeria’s gaming industry”.
Central Gaming Bill points out the formation of the Central Gaming Commission, the regulatory body mandated with the responsibility to issue licenses, monitor and enforce compliance within the industry.
Hon. Abbas Tajudeen the Speaker, who presided over the session where the bill was presented, asked the members to vote through a voice vote and it resulted in the bill being passed.
It is worthy of note that the initial ruling from the Supreme Court did not make any pronouncement on the regulation of online and remote gaming. Furthermore, the sole aim of the Central Gaming Bill is to regulate online and remote gaming sector and not intervene in retail or land-based gaming operations.
Conclusively, once the Bill is passed into law will make the online market a well-regulated industry which will ensure that operators adhere to set out rules and regulations. Also, this will help offer customers protection and will also help fight issues such as money laundering and any other form of financial crime.
In addition, the Bill will help promote and maintain the integrity of the industry and makes it more attractive for potential operator. Lastly, it will help enhance revenue generation from the gaming sector; by streamlining taxation, licensing fees, and regulatory compliance, the legislation aims to maximize the financial contributions of operators while promoting transparency and accountability.
