The National Lottery Regulatory Commission (NLRC) has dismissed a report of financial misappropriation to the tune of N6.3billion.
A statement by the director general NLRC, Mr Lanre Gbajabiamila said the NLRC was not the agency scrutinised by the NASS Committee on Finance.
The report alleged 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.”
However, the commission said the Nigerian Lottery Trust Fund (NLTF) and not NLRC appeared before the committee.
“Let me be unequivocal in stating that the NLRC dissociates itself from the recent false claims erroneously or deliberately linking us to alleged fund misappropriation by the Nigerian Lottery Trust Fund (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”.
He said the 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. Unfortunately, some individuals with malicious intent are taking advantage of this mistake to involve the commission in an unrelated matter,” he said.
He explained further 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,” he said.
