13 May NLRC PARTNERS CASH TOKEN REWARD AFRICA ON STAKEHOLDERS SENSITISATION

NLRC PARTNERS CASH TOKEN REWARD AFRICA ON STAKEHOLDERS SENSITISATION

As part of its commitment to stimulate economic growth and wealth distribution across the nation, the Director General, the National Lottery Regulatory Commission (NLRC), Mr. Lanre Gbajabiamila OON featured on a joint sensitisation campaign with the MD/CEO of Cash Token Rewards Africa, Chief Lai Labode on the NTA Good Morning Nigeria programme and TVC News Morning show to discuss the potentials of the Nigerian National Patronage Cash Reward programme.

DG NLRC, Lanre Gbajabiamila (r) speaking during a joint sensitisation discussion with CEO of Cash Token Rewards Africa, Chief Lai Labode (l) on the NTA Good Morning Nigeria show

During the joint interview sessions, Mr. Gbajabiamila explained that the Commission meticulously examines, recognizes and identifies all schemes with elements of chance for reward-based initiatives in lotteries and sports betting.

He highlighted that the National Patronage Cash Reward program ensures rewards for patronising Nigerian businesses whereby customers earn cash tokens, leading to a weekly cash rewards program which guarantees the chances of winning as much as one hundred million Naira every week.

The DG, NLRC, revealed that with the full support of the Federal Government, the scheme was expanded into a national program open to all businesses, after a five-year pilot period led by private companies. He noted that the NLRC partners with relevant agencies to ensure regulatory compliance and tackle illegalities.

Considering the prevalent challenges of poverty in Nigeria, Gbajabiamila stated that the program serves as a social intervention programme which benefits many young people.

He said the scheme was obtainable internationally in other developed nations, citing instances with frequent flyer rewards programmes in the airline industry which through its rewards programmes significantly contributes to economic development.

Distinguishing the scheme from gambling, Gbajabiamila explained that a product must be purchased for one to receive a cash token, then proceed to the weekly draw, wherein “whether you win or not, you are still a winner because you are contributing to what we call good courses”.

He further enlightened that the good causes are part of what the government uses for social intervention programmes in various sectors, such as education, health, sports, ecological challenges, amongst others. He recalled that during the Covid-19 period, interventions were made through the Commission’s sister agency- National Lottery Trust Fund.

The CEO of Cash Token Rewards Africa, Chief Lai Labode commended the efforts of the Commission for its role in expanding the cash token reward concept into a national programme.

He said Cash Token Reward Africa was borne out of the thought that Africa needed a new generation of socially smart business models. He added that since inception, it had demonstrated to trigger a sustainable wealth redistribution program that would touch the life of every Nigerian as never before.

According to Chief Labode, the private sector involvement spans five years, with about 200 partnered businesses, resulting in nearly 20 billion Naira disbursed to support local businesses until the Commission expanded the initiative to a national rewards programme

Highlighting the conditions for acquiring a cash token reward Labode stated that it required meeting specific patronage thresholds and objectives.

When qualified, the recipients receive immediate wallet cash and also gain entry into a weekly $5.2 million national consumer draw, which reflects the businesses’ appreciation for patronage.

Labode further stressed that the key objective of the entire programme was to provoke increased patronage of Nigerian businesses, while also rewarding Nigerians for patronising them, adding that every Nigerian would carry one reward wallet for all businesses.

Furthermore, he stated that the National Cash Token Reward was a business-friendly policy which aims to be inclusive irrespective of financial status, ensuring more rewards with each purchase benefitial to all, while safeguarding businesses from losses. He praised the contributions from Nigerian businesses, particularly the telecommunications sector which, according to him, had significantly supported the initiative financially over time.

Regarding the potential outcomes of draws, Chief Labode confirmed that Cash Token Reward Africa has benefited a lot of Nigerians, including those in the private sector. He cited an example with a Shagamu, Lagos resident who had won ten million Naira in a previous draw.

The Nigerian National Patronage Cash Reward (NNPCR) programme will be launched soon.

By Chinyere Odinukwe