HomeNewsNLTF Commends EFCC for Significant Increase in Revenue Inflows

NLTF Commends EFCC for Significant Increase in Revenue Inflows

The Executive Secretary and Chief Executive Officer, ES/CEO, of the National Lottery Trust Fund, NLTF, Bello Maigari, has commended the Economic and Financial Crimes Commission, EFCC, for helping to widen the revenue base of the Fund through enhanced  remittance inflows from N800million to N2.1billion annually.

He gave the commendation in Abuja on Thursday, April 4, 2024 when he led his management team on a courtesy visit to the corporate headquarters of the Commission.  Maigari stated that the intervention of the EFCC assisted his Fund to grow its revenue profile and number of lottery operators.

“Before the Commission’s intervention, remittance inflows could not exceed N800 million annually. However, when the exercise started in 2020, there was a significant increase in remittance inflows between N1.8billion and N2.1 billion and the same applied to number of lottery operators from barely 10, their numbers steadily increased to 48 as at last count”, he said He lauded the rising performance of the Executive Chairman of the EFCC, 

Mr. Ola Olukoyede since he assumed office, pointing out that his performance has been phenomenal. Let me once again congratulate you on your well-deserved appointment to this high office and to commend you and members of your able team for your exemplary leadership, courage and patriotism in stemming the tide of growing financial crimes in the country.”

Maigari admitted that the lottery and gaming industry have grown significantly “to well over N2trillion.” He, therefore, called for increased collaboration with the EFCC to sustain the growth and to recover outstanding liabilities from lottery operators. 

Speaking further, Maigari appealed to the EFCC to help in steering the implementation of the Revenue Assurance Platform of the NLTF, describing it as “a strategic revenue mobilization initiative being driven by the Federal Ministry of Finance on behalf of the National Lottery Trust Fund”.

Responding, Olukoyede, appreciated the visit and the good work Maigari is doing in the area of revenue mobilization and recovery. He charged him to work harder stressing that the Commission was ready to support his Fund in its drive for larger remittance inflows.

NLTF Commends EFCC for Significant Increase in Revenue Inflows

The EFCC boss urged Maigari  to furnish the EFCC with intelligence on the number of registered and unregistered betting and gaming platforms across and outside the country, promising that unregistered ones would be compelled to comply with the laws of the nation to do the right things.

Aniedi Ekwere
Aniedi Ekwere
Author/Consultant Find More Africa/AA Advisory, We provide betting reviews, thought leadership articles in the emerging markets, business development on products/ platforms in Africa with solid networking relationships with gaming operators in Africa, and Expertise in PR and marketing communication, and iGaming Consulting Services.

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