Lottery commission perfects measures to deter money laundering, others

The National Lottery Regulatory Commission has  perfected stringent measures to deter money laundering, financing of terrorism, proliferation of weapons of mass destruction and other predicate offences in the lottery industry in its unrelenting effort to serve Nigeria and the industry better.

The new technology based measures are being attained through information and intelligence sharing with relevant agencies and arms of government, according to the Head of Public Affairs for the commission, Mr. Magnus Ekechukwu who spoke to journalists at the sideline of a workshop on Effects of Hate Speech, Fake News, Financial and Cyber crimes on National Security in Nassarawa on behalf of the Director General of the Commission, Mr. Lanre Gbajabiamila, over the weekend.

Ekechukwu disclosed that the National Lottery Regulatory Commission (NLRC) under the leadership of Mr. Lanre Gbajabiamila had signed a Memorandum of Understanding (MoU) with the Nigerian Financial Intelligence Unit (NFIU) and the National Lottery Trust Fund (NLTF) for efficient and effective implementation of the measures.

The commission’s spokesperson explained that the objective of the recently signed MoU with the agencies was to strengthen and ensure transparency in the Nigerian Lottery industry; facilitate exchange of knowledge and expertise through training programs and promote a better understanding of economic and legal conditions relevant to the enforcement of applicable laws and statutes.


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