The Street Reporters Newspaper

…Breaking News with Integrity!

Adsense

NLTF Commends EFCC for Raising its Remittance Inflows to N2.1bn
Business Crime Economy Featured Post National News News

NLTF Commends EFCC for Raising its Remittance Inflows to N2.1bn

Spread the love

This post has already been read 132 times!

The Executive Secretary and Chief Executive Officer (ES/CEO) of the National Lottery Trust Fund (NLTF), Bello Maigari, has commended the Economic and Financial Crimes Commission (EFCC) for helping to widen the revenue base of the Fund through enhanced remittance inflows from N800million to N2.1billion annually.

He gave the commendation in Abuja on Thursday, April 4, 2024 when he led his management team on a courtesy visit to the corporate headquarters of the Commission.

Maigari stated that the intervention of the EFCC assisted his Fund to grow its revenue profile and number of lottery operators.

ALSO READ  Continental Students’ Movement Lauds Governor Sanwo-Olu for Strategic Appointment in Education Sector

“Before the Commission’s intervention, remittance inflows could not exceed N800 million annually. NLTF Commends EFCC for Raising its Remittance Inflows to N2.1bn

“However, when the exercise started in 2020, there was a significant increase in remittance inflows between N1.8billion and N2.1 billion and the same applied to number of lottery operators from barely 10, their numbers steadily increased to 48 as at last count”, he said.

He lauded the rising performance of the Executive Chairman of the EFCC, Mr. Ola Olukoyede since he assumed office, pointing out that his performance has been phenomenal.

“Let me once again congratulate you on your well-deserved appointment to this high office and to commend you and members of your able team for your exemplary leadership, courage and patriotism in stemming the tide of growing financial crimes in the country.”

ALSO READ  Vaccine: Gavi & Lower Income Countries Launch Drive to Reach Over 100M Children in 2024

Maigari admitted that the lottery and gaming industry have grown significantly “to well over N2trillion.” NLTF Commends EFCC for Raising its Remittance Inflows to N2.1bn

He, therefore, called for increased collaboration with the EFCC to sustain the growth and to recover outstanding liabilities from lottery operators.

Speaking further, Maigari appealed to the EFCC to help in steering the implementation of the Revenue Assurance Platform of the NLTF, describing it as “a strategic revenue mobilization initiative being driven by the Federal Ministry of Finance on behalf of the National Lottery Trust Fund”. NLTF Commends EFCC for Raising its Remittance Inflows to N2.1bn

ALSO READ  More Tragedy in Iran As Earthquake Hits Country After President Raisi’s Death

Responding, Olukoyede, appreciated the visit and the good work Maigari is doing in the area of revenue mobilization and recovery.

He charged him to work harder stressing that the Commission was ready to support his Fund in its drive for larger remittance inflows.

The EFCC boss urged Maigari to furnish the EFCC with intelligence on the number of registered and unregistered betting and gaming platforms across and outside the country, promising that unregistered ones would be compelled to comply with the laws of the nation to do the right things.

StreetReporters.ng

Comrade James Ezema is a veteran journalist and media consultant. He is a political strategist. He can be reached on +2348035823617 via call or WhatsApp.

Discover more from The Street Reporters Newspaper

Subscribe now to keep reading and get access to the full archive.

Continue reading