The Director General of the National Lottery Regulatory Commission (NLRC), Mr Lanre Gbajabiamila, has called for an urgent review of the Memorandum of Understanding (MOU) between his Commission and the Economic and Financial Crimes Commission (EFCC) to reflect the changing dynamics of the global gaming industry.
During a courtesy visit to EFCC Chairman Mr Ola Olukoyede on Friday, 23rd August 2024, in Abuja, Gbajabiamila expressed his gratitude for the EFCC’s support in recovering unremitted lottery funds. He acknowledged that significant progress had been made thanks to the collaboration, but highlighted the necessity for an updated agreement that aligns with the current realities of the lottery and gaming sectors.
“The MOU between the NLRC and the EFCC, which dates back to 2015, needs revisiting due to the evolving nature of the gaming industry,” Gbajabiamila stated. “The landscape has changed considerably, and we must adapt our partnership to ensure we effectively address these new challenges.”
He also revealed that the NLRC is actively working with the Nigeria Financial Intelligence Unit (NFIU) and the Office of the National Security Adviser (ONSA) to monitor and combat terrorism financing, money laundering, and other fraudulent activities within the gaming industry. The Director General underscored the importance of equipping lottery operators with enhanced training through the Special Control Unit against Money Laundering (SCUML) to ensure compliance with relevant rules and regulations.
In response, EFCC Chairman Olukoyede welcomed the delegation and praised the NLRC for its commitment to upholding the regulatory standards of the lottery industry. He agreed on the necessity of updating the MOU to address contemporary issues, particularly in light of new laws and regulatory requirements.
“We recognise the importance of revisiting our MOU to ensure it meets the current needs of both the regulatory and enforcement aspects of the gaming industry,” Olukoyede said. “Through this strengthened collaboration, we can work together to sanitise the industry and protect it from criminal activities.”
The proposed review of the MOU between the NLRC and EFCC marks a proactive step towards maintaining the integrity of Nigeria’s gaming industry, ensuring it remains compliant with international standards while effectively tackling financial crimes.
Support InfoStride News' Credible Journalism: Only credible journalism can guarantee a fair, accountable and transparent society, including democracy and government. It involves a lot of efforts and money. We need your support. Click here to Donate