Nigeria: Lagos again! Plans to slam N20m licence fee on lottery, betting operators
It seems business players in Lagos State have not seen the end of multiple taxations as the State House of Assembly says a bill to make operators of lottery, pools and betting pay a whopping N20 million as licence fees to the government is in the pipeline.
The bill is entitled; “Lagos State Lotteries and Gaming Authority Bill Arrangement of Sections” came up fpr public hearing recently.
According to the Deputy Speaker, Wasiu Sanni-Eshinlokun, the new bill repeals existing laws such as the Lagos State Lotteries (Amendment) Law 2008, the Lagos State Lotteries Law (2004), and the Casino and Gaming Regulatory Authority Law (2007).
Others are Casino and Gaming Regulations (2007), Pools Betting Control Law (2003) and Pools Betting Tax Law (2003).
Eshinlokun said before a license is granted to an operator, “the authority shall be satisfied that the applicant is a registered company in Nigeria with a minimum share capital of N20million or as may be directed by the authority.”
The lawmaker said the bill addresses cybersecurity and urged the people to take it seriously.
A stakeholder, Adebagun Nojeem, has appealed that the N20million share capital should be reduced.
“It would have a retroactive effect on the companies that have been registered. Pool, for instance, is a game of senior citizens. With this new draconian regulation, we may go under.” he begged.