Gbajabiamila faults lottery industry valuation, exonerates NLRC from remittance failure

The National Lottery Regulatory Commission (NLRC) has clarified that it has not failed to remit any fund due to the federation account, contrary to the reports on misappropriation of funds erroneously linked to it.

It also clarified as false, the trillions of Naira valuation of the Nigerian lottery industry, saying that it is unfounded and merely sensational, seeking attention rather than truth.

Director General, NLRC, Lanre Gbajabiamila, made the clarifications against the backdrop of reports and statements involving Nigerian Lottery Trust Fund (NLTF) mischievously linked to the commission. “Let me be unequivocal in stating that the NLRC disassociates itself from the recent false claims erroneously or deliberately linking us to alleged fund misappropriation by the NLTF. Furthermore, we must clarify that the trillions of Naira the NLTF is purportedly asserting as the Nigerian lottery industry valuation are unfounded and merely sensationalist, seeking attention rather than truth.

“The assertion becomes even more ridiculous when juxtaposed with the current GDP. Moreover, the NLTF is neither the regulator nor custodian of lottery figures in Nigeria.”

The full text of the Gbajabiamila’s clarifications reads:
The National Lottery Regulatory Commission (NLRC) has become aware of a misleading report circulating on social media regarding a video from the National Assembly Committee on Finance interrogating an agency.

This report falsely alleges that the Commission ‘Generated N6.3 billion in 2022 but remitted Zero Naira, with a deficit of N252 million while fully funded by the Federal Government.’ It is imperative to clarify that this report does not pertain to the NLRC. This deliberate dissemination of misinformation threatens the reputation and trustworthiness of the Nigerian lottery sector and the credibility of the NLRC itself.

Our bedrock of trust and credibility, which we have painstakingly built over the years, is eroded by these deliberate attempts to mislead, and we are deeply troubled by this. Let me be unequivocal in stating that the NLRC disassociates itself from the recent false claims erroneously or deliberately linking us to alleged fund misappropriation by the NLTF.

The House of Representatives Committee on Finance quizzed the NLTF on the mentioned day. However, confusion arose when the Nigeria Television Authority (NTA) and Channels Television mistakenly referenced the NLRC instead of the intended entity, the NLTF, in their reports. Both media agencies promptly issued an apology to the NLRC for this error. Unfortunately, some individuals with malicious intent are taking advantage of this mistake to involve the Commission in an unrelated matter.

Furthermore, we must clarify that the trillions of Naira the NLTF is purportedly asserting as the Nigerian lottery industry valuation are unfounded and merely sensationalist, seeking attention rather than truth. The assertion becomes even more ridiculous when juxtaposed with the current GDP. Moreover, the NLTF is neither the regulator nor custodian of lottery figures in Nigeria.

The much-needed Central Monitoring System (CMS), which the NLRC will deploy to monitor all lottery activities in the country and provide an accurate figure of the worth and revenue generation, has not taken off yet. So, it will be misleading to project and brandish unverified numbers in this regard. These baseless assertions distort reality and cast an unwarranted shadow on the NLRC’s unwavering commitment to transparency and fairness.

Such misleading information demands decisive action to rectify the damaging narratives that threaten the very integrity of our industry. In light of this, the NLRC will rebuff any attempts of entanglement in matters outside its purview. Therefore, this statement aims to unequivocally set the record straight that the NLRC was not the agency scrutinised by the NASS Committee on Finance.