By Joyce Remi-Babayeju
The FCT Lottery Regulatory Office (FCT-LRO) is set to regulate the gaming sector to boost the economic development of the nation’s capital.
Director General of the FCT Lottery Regulatory office, Mr. Lanre Gbajabiamila who stated this on Wednesday during a joint media briefing on the FCT-LRO’s official take off in Abuja, explained that the aim is to harness the potential of the sector while enhancing the industry’s image.
Mr. Gbajabiamila stated that the commencement of the regulation of the gaming industry operating in Abuja is also to prevent loss of revenue for the territory.
He disclosed that the FCT Minister, Barr. Nyesom Wike issued a directive to commence the regulation and oversight of the gaming industry within the FCT.
Gbajabiamila explained that the decision became necessary after the Supreme Court of Nigeria’s landmark judgment in the case of AG Lagos & Ors Vs AG Federation & Anor SC/1/2008, which affirmed that the authority should regulate lottery and gaming activities within the FCT and within the jurisdiction of the FCT Administration.
Speaking on the challenges that come with regulatory transitions, he said that the Office acknowledges such , and assured that the regulatory office is strongly committed to providing stability, clarity, and continuity in its approach.
According to him, Furthermore, the development will help to establish a robust and transparent regulatory framework for gaming activities in the FCT as well create an enabling environment that fosters investment, fair play, and responsible gaming.
Gbajabiamila assured that all gaming licenses and permits previously issued by the defunct National Lottery Regulatory Commission (NLRC) remain valid and enforceable within the FCT for
the remaining term of the license or permit.
He added that the licensed operators would
continue to operate under the FCT Lottery Regulatory Office (FCT-LRO) without disruptions following this renewed mandate.
“We appeal to existing and intending operators to rest assured that this mandate aligns with the FCTA’s vision to harness the economic potential of the gaming sector for the development of the FCT, while pursuing the objective of enhancing the industry’s reputation.
“Moreover, this directive presents an invaluable opportunity for the FCT to utilize its gaming industry for economic growth and social benefits and the responsibility to collaborate closely with the office of the Honorable Minister and the FCT Internal Revenue Service (FCT-IRS) to ensure proper regulatory oversight and effective gaming remittance within the industry.”
“We recognize that this regulatory shift may provoke inquiries among stakeholders, and we encourage licensed operators to engage with us as we navigate this transition.”
Our goal remains to ensure clarity, stability, and fairness while upholding global best practices in gaming regulation”, he stressed.
The Acting Executive Chairman of FCT-IRS, Mr. Michael Ango noted that the gaming industry holds a lot of promise for attracting investment to the territory.
Ango reiterated that the initiative was in line with the vision of the honorable
Minister of the FCT to ensure that Abuja becomes the model capital city and a tourist destination.
Ango said, “We are all aware Abuja is becoming a tourist destination. We believe that one of the attractions of cities such as ours is that people come here for leisure and I believe that the gaming industry holds a lot of promise for attracting investment into the FCT, that is the reason we believe that this initiative is one that is for the overall benefit of the residents and the people of the FCT.”
“We want to assure you that as we take off this initiative we will continue to brief you on progress, the FCT Lottery regulatory office is open for businesses and we are using this opportunity to invite our operators and investors to do the needful.”
We are grateful to the Honorable Minister for his vision, foresight and support, and we want to pledge that we will surely reciprocate the confidence that he has put in both organizations to drive this course, he concluded.
End
End
