NLRC Calls for MOU Review with EFCC to Combat Financial Crimes

Gaming Industry Calls for Review of Memorandum of Understanding between NLRC and EFCC

The Director General of the National Lottery Commission (NLRC), Mr. Lanre Gbajabiamila, has called for a review of the Memorandum of Understanding (MOU) between the NLRC and the Economic and Financial Crimes Commission (EFCC). Gbajabiamila made the call during a courtesy visit to the EFCC’s Executive Chairman, Mr. Ola Olukoyede, at the commission’s corporate headquarters.

The review is aimed at keeping pace with the evolving realities in the gaming industry worldwide. Gbajabiamila praised the EFCC for its assistance in the recovery of unremitted lottery funds, stating that without the commission’s collaboration, some recoveries would not have been made.

The NLRC is also working with the Nigeria Financial Intelligence Unit (NFIU) and the Office of the National Security Adviser (ONSA) to monitor and tackle terrorism financing, money laundering, and other fraudulent financial activities within the gaming industry.

Additionally, the NLRC boss emphasized the need for enhanced training for lottery operators to ensure they are familiar with the relevant rules and regulations. This comes as the NLRC collaborates with the Special Control Unit against Money Laundering (SCUML) to promote transparency and accountability in the industry.

Responding to the visit, Olukoyede commended the NLRC for adhering to the rules and regulations governing the lottery industry. He assured the delegation that the EFCC is ready to review the MOU in line with contemporary issues, particularly changes in laws and regulatory requirements.

The collaboration between the NLRC and EFCC is seen as crucial in sanitizing the gaming industry, with the EFCC serving as an enforcement agency and the NLRC acting as a regulator. The review of the MOU is expected to strengthen their partnership and promote a more efficient and effective gaming industry in Nigeria.