Lagos State House of Assembly has said a bill to make operators of lottery, pool and betting to pay N20 million as licence fee to the state is underway.
The Speaker of the House, Mudashiru Obasa, made this known at a public hearing on the bill in Lagos state on Friday, August 14.
The bill was entitled; “Lagos State Lotteries And Gaming Authority Bill Arrangement of Sections”.
Obasa, represented by the Deputy Speaker, Wasiu Sanni-Eshinlokun, explained that the new bill, when it becomes law, would consolidate all the laws in the sector.
The new bill will also repeal existing laws such as the Lagos State Lotteries (Amendment) Law 2008, the Lagos State Lotteries Law (2004), and the Casino and Gaming Regulatory Authority Law (2007).
Others are Casino and Gaming Regulations (2007), Pools Betting Control Law (2003) and Pools Betting Tax Law (2003).
In addition, before a license is granted to an operator, the authority shall be satisfied that the applicant is a registered company in Nigeria with a minimum share capital of N20 million or as may be directed by the authority.
The bill also specified that the local content shareholder shall abide by the regulations, policies, terms and conditions issued by the authority.
He expressed that a sound legislature must be the aggregate of the common interest of the majority, and that it must perceive the interest of the people and aggregate it.
The speaker noted that to achieve the essence of democracy, the legislature must be in tune with the people.
He said this underscores the essence of public hearing as the worldwide gaming was worth $200 billion, saying several Nigerians are now involved in games and sports bettings.
Obasa expressed that the addictive nature calls for caution, hence the need for an amendment of the 2008 lottery law as the bulk of the game were done on mobile gadgets.
The state Commissioner for Finance, Dr Rabiu Olowo, said that a lot has changed in the Nigerian gaming sector in the last 10 years and most of the people involved are youths.
The future of gaming in Nigeria is bright. The regulations are very robust. So the bill addresses cyber security and addresses the concerns of many people. I want to urge all stakeholders to take it serious.
Search The Poise
Like The Poise On Facebook
- My struggle inspires my lyrics – singer Dolly P
- Why CBN Naira Re-Design Is Injurious To The APC’s Chances – Party Chieftain, Alhassan Doguwa
- FFK Says Emefiele Has Weaponized The CBN And Is An Enemy Of Democracy
- Transfer Talk: Premier League deadline day special
- Tinubu Refered To Atiku As ‘Selling President Not Senate President’ – Keyamo
Top Posts & Pages
Entertainment News5 years ago
Justin Bieber & Selena Gomez Have Started Hanging Out Again
News2 years ago
Buhari Reportedly plots retirement of southern Police AIG to clear paths for another IG from northern region
Articles6 years ago
Marcus Rashford’s Girlfriend Lucia Loi
Photos5 years ago
Leroy Sane’s Girlfriend Candice Brook
Business News1 year ago
Air Peace Introduces Priority Boarding For Military Personnel
Videos3 years ago
New Video: KingTurun – Jaiye
Entertainment News5 years ago
Top 10 Sexiest Young Female Celebrities in The World
Celebrities5 years ago
David Beckham Allegedly Got His Daughter’s Teacher Pregnant