Lottery Agency Lauds EFCC for Raising Remittance Inflows to N2.1b

National Lottery Trust Fund (NLTF) Executive Secretary, Dr. Bello Maigari, has hailed the Economic and Financial Crimes Commission (EFCC) for widening its revenue base.

A statement by EFCC spokesman, Dele Oyewale, in Abuja yesterday said Maigari gave the commendation when he visited the commission’s Chairman, Ola Olukoyede in Abuja.

The statement quoted Maigari as saying that the EFCC had helped widen the revenue base of the fund through enhanced remittance inflows from N800 million to N2.1 billion annually.

Maigari said the intervention had assisted NLTF to grow its revenue profile and number of lottery operators.

The statement reads: “Before the Commission’s intervention, remittance inflows could not exceed N800 million annually.

“However, when the exercise started in 2020, there was a significant increase in remittance inflows between N1.8 billion and N2.1 billion, and the same applied to number of lottery operators from barely 10, their numbers steadily increased to 48 as at last count.”

He lauded the agency’s performance since Olukoyede took the saddle as its chairman.

The statement quoted the NLTF boss thus: “Let me once again congratulate you on your well-deserved appointment to this high office, and to commend you and members of your able team for your exemplary leadership, courage and patriotism in stemming the tide of growing financial crimes in the country.”

Maigari was quoted as saying that lottery and gaming industry had grown significantly to over N2 trillion, and called for increased collaboration with the EFCC to sustain the growth as well as recover outstanding liabilities from lottery operators.

Speaking further, Maigari appealed to EFCC to help in steering the implementation of the Revenue Assurance Platform of the NLTF, describing it as “a strategic revenue mobilisation initiative being driven by the Federal Ministry of Finance on behalf of the Fund”.

The statement also quoted Olukoyede as appreciating the visit and the good work Maigari was doing in the area of revenue mobilisation and recovery.

He charged the NLTF boss to work hard, adding that the commission was ready to support the fund in its drive for larger remittance inflows.

Olukoyede urged Maigari to furnish the EFCC with intelligence on the number of registered and unregistered betting and gaming platforms across and outside the country.

He promised that unregistered ones would be compelled to comply with the laws of the nation to do the right things.