09 Mar NLRC Wraps the Month with KYC Meeting

DG, NLRC , Mr. Lanre Gbajabiamila (OON)

In fortifying anti-money laundering measures, unveiling illicit financial activities, and ensuring transparency in the gaming industry, the Director General of the National Lottery Regulatory Commission, Lanre Gbajabiamila, OON, interrogated stakeholders’ documentation during the KYC meeting. This encompassed presentations on shareholders, directors, and activities.

The meeting held at the Commission’s headquarters in Abuja on February 27th and 28th 2024, with eleven operators in attendance.

During his address, DG Gbajabiamila highlighted the KYC’s purpose, emphasizing the necessity for stringent checks in lottery license and permit registration processes, as well as remittance to the Federal Government. He clarified that the commission supports operators’ adjustments that align with policies against money laundering and illicit financial activities.

Operators were instructed to cease any unlicensed games, and the DG urged them to ensure their offices are known to the Commission. He stressed that the Commission aims to assist and guide operators, preventing engagement with improper technical partners. The DG also encouraged technical providers to register with the Commission.

The DG announced the Commission’s intent to shut down inactive operators to prevent suspicious activities, urging them to update their files for expedited presentation processes.

NLRC DG, Mr. Lanre Gbajabiamila (OON) speaking to Operators at the KYC session

Stakeholders pledged to meet necessary requirements and settle outstanding debts. While some committed to paying portions of outstanding amounts, they sought waivers. The management team, however, declined total waivers but considered deserving operators.

Participants at the meeting included Western Bet, Otqame Game, First African Betwing Gaming Limited, New Year Mega Lottery Limited, and Morrich Lotto Limited, First African Betwing Gaming Limited, Domo Casina Abuja Ltd, Benedizione Ltd, Umican Fortune House Network Limited, Barcode Transportation Ltd and Ilimin8 Technologies Ltd.

This meeting is a crucial step in fulfilling the requirements for obtaining a National Lottery License or Permit and guiding those who have operated outside legal confines.