Ahead of its planned National Gaming Conference, slated for July, the management of the National Lottery Regulatory Commission (NLRC) has expressed readiness to collaborate with the Federal Inland Revenue Service (FIRS) in all areas of mutual interest, to foster increased revenue generation for the Federal Government.
Director General, NLRC, Mr Lanre Gbajabiamila, stated this on Monday when he led the management of the commission on a courtesy visit to the Executive Chairman of the FIRS, Alhaji Muhammad Mamman Nami.
He noted that with the sustained developmental growth witnessed in the lottery industry, coupled with the ancillary business opportunities therein, it became imperative for the commission to seek collaborations with relevant agencies to complement its regulatory efforts.
“Scope of operations has grown, just as the entire industry is witnessing an astronomical growth. We seek out sister Federal Government agencies relevant in actualising our mandate for concrete collaborations. We already have ties with Nigerian Communications Commission (NCC), National Information Technology Development Agency (NITDA), as well as with anti-graft agencies, namely the Nigerian Financial Intelligence Unit (NFIU) and Economic and Financial Crimes Commission (EFCC). The FIRS will not be isolated, as we need your agency for a working synergy of mutual benefit to our respective organisations,” Gbajabiamila said.
He identified issues of double regulation and double taxation as areas of challenges for operators of lottery business in Nigeria, adding that lottery operators contribute percentage of their earnings to good causes in the country, while also paying taxes to both federal and state governments.
The lottery commission boss said it is important for the FIRS to participate in the National Gaming Conference, with a view to creating better understanding of the issues, adding that NLRC would undertake elaborate public awareness campaign aimed to offer proper guidance to lottery operators and other stakeholders.
Responding, Alhaji Nami pledged the support of the FIRS towards a successful National Gaming Conference.
He noted that taxes are the primary source of revenue to governments all over the world, adding that 60 to 70 per cent of all the funds shared monthly by the Federation Account Allocation Committee (FAAC) among the three tiers of governments in Nigeria is generated by the FIRS.
“We are not taking the visit lightly as it will assist us to meet our target. We are always interested in meeting our critical partners in progress and together we will be able to block all revenue leakages in the country. The visit is very important and appreciated,” Nami concluded.
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