Business News of Tuesday, 25 July 2023

Source: classfmonline.com

NLA cracks down on illegal operators

The joint enforcement team will take decisive actions to curb unlawful activities The joint enforcement team will take decisive actions to curb unlawful activities

The National Lottery Authority (NLA) in Ghana has declared its intent to initiate a sustained crackdown on illegal lottery operators, commonly known as "Banker to Banker," as they continue to operate outside the confines of the law.

This underground lottery industry in Ghana has been estimated to be worth GH₵‎350 million per year, causing significant revenue losses for the government.

At a recent meeting with media practitioners, NLA Director General, Sammi Awuku, firmly warned that no pleas from opinion leaders or politicians on behalf of those caught in the illegal lottery operations would be entertained.

Such activities are deemed unlawful under Act 722 and L.I. 1948, as manufacturing, distributing, selling, or retailing lotto products and services without authorization from the NLA is strictly prohibited.

The overall lottery market in Ghana is estimated to be worth approximately GH₵1 billion annually, with the NLA accounting for GH₵290 million in revenue during the 2022 financial year. For the current year, the NLA projects to rake in GH₵370 million, leaving the remaining GH₵300 million to be generated by 12 Private Lotto Operators (PLOs) licensed by the NLA.

To execute the crackdown effectively, a joint team comprising representatives from the NLA, Finance Ministry, Ghana Revenue Authority (GRA), and National Security will conduct unannounced swoops on illegal operators.

The NLA's Legal Department has already initiated communication with some companies identified as participating in illegal lotto operations, urging them to cease such activities and legalize their operations through the proper channels.

One of the challenges faced in tackling this issue is that certain illegal lotto operators allegedly finance the activities of politicians from both sides of the political spectrum in Ghana.

However, Mr. Awuku stressed that it is time to move beyond such influences and ensure the proper regulation and streamlining of the lotto business operations in the country.

In conclusion, the NLA's concerted effort to clamp down on illegal lottery operators aims to restore the integrity of the lottery market and prevent further financial losses to the government.

The joint enforcement team will take decisive actions to curb unlawful activities and bring all offenders to justice.