Nigerian Government Calls For Action On Payment Default

Published Monday, November 27, 2017 -
Nigerian Government Calls For Action On Payment Default

The West African nation of Nigeria often referred to as the "Giant of Africa" because of its large population and economy which has approximately 186 million inhabitants and massive potential when it comes to wagering. In Nigeria there is little the government can do to stop citizens from playing at offshore online casinos and sports betting sites.  

Nairabet was Nigeria's first domestic online sports betting site offering sports and live betting and the option to play casino games. As of 2015, Nigeria became the world's 20th largest economy, worth more than $500 billion and $1 trillion in terms of nominal GDP and purchasing power parity respectively.

Now however the Nigerian congress has decided to take aim at as many as 18 lottery operators for failing to meet financial obligations to the government. Nigeria’s The Daily Post news source recently reported that the chair of the House committee on governmental affairs, Rep. Suleiman Hussaini Kangiwa has lost his patience waiting for the operators to remit the taxes and fees to the government. The official is clearly upset and has warned the particular operators that the licenses will be revoked. Kangiwa during a meeting with them and the management of the Nigeria Lottery Regulatory Commission (NLRC) warned arrest warrants would be issued for lottery operators not paying the required taxes and fees.

Kangiwa commented, “We’re very much aware of the 21 licensed operators in Nigeria, but only two or three remitting something to the government. It’s very unfortunate,” Kangiwa continued, “Nigerians and this committee are disappointed in you, because after getting license and money, you don’t give the government anything.” Acting Director General of the NLRC, Lanre Gbajabiamila, told the panel that the agency had reminded the licensees of their duties many times. Lottery operators have stated that the taxation load between the federal and states governments and low revenues continue to cause financial issues for them.

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