National Lottery Trust Fund to be audited in Nigeria
In Nigeria, the House of Representatives Committee on Finance is organizing a probe of the National Lottery Trust Fund over off-budget expenditure by the management.
Lottery revenues in 2023 amounted to about $2.5 billion. That amount included revenue from licensees.
The MPs found that the revenue was spent by the management of the fund on various projects in the country. At the same time, no approval was obtained from the National Assembly for the expenditure of the funds.
An external auditor will be appointed to audit the accounts of the Fund. Upon its completion, the reports will be submitted to the House of Representatives for a decision.
It should be noted that the Lottery Trust Fund is an agency of the Federal Government established under the National Lottery Act of 2005.
Share
-
Angola’s ISJ unveils new directive to bo...The Gaming Supervision Institute (ISJ) o...June 23, 2025
-
SOFTSWISS takes home four awards In one...SOFTSWISS, a global provider of iGaming ...June 23, 2025
-
Gamzix turns up the heat with Yummy Dump...The Maltese game provider Gamzix has off...June 23, 2025