Monday, October 19, 2020
MARKET UPDATE
Advertisement

TheCable

Advertisement
 ON THE GO

EFCC recovers over N4bn unpaid revenue from lottery companies

EFCC recovers over N4bn unpaid revenue from lottery companies
September 25
13:26 2020

The Economic and Financial Crimes Commission (EFCC) says it has recovered over N4.16 billion from lottery companies, being revenue owed to the government which they refused to remit.

Advertisement

Mohammed Umar Abbah, acting chairman of EFCC, disclosed this when he hosted a delegation of the ministerial task force for recovery of unpaid revenues from lottery businesses, on Thursday.

He explained that the anti-graft agency got involved because the lottery companies had been negligent in remitting revenue to the government.

“We mapped out strategies which resulted in the recovery of over N1.16 billion from lottery companies, operating in Abuja, with over N3 billion from their counterparts, operating in Lagos state,” he said.

Advertisement

Abbah assured the task force of the EFCC’s willingness to continue their partnership in recouping outstanding revenue from lottery companies.

Williams Alo, chairman of the ministerial task force and permanent secretary, ministry of special duties and inter-governmental affairs, commended the EFCC for the efforts made in recovering the funds.

“Let me acknowledge the efforts of this commission for the assistance it has rendered not only to the federal government of Nigeria, but specifically to the lottery industry in Nigeria,” he said.

Advertisement

“It is on our record that the EFCC has assisted the lottery business in no small way, because a lot of recoveries have been made for us by the EFCC and the money recovered has always been handed over to the lottery trust fund.”

Alo also urged the agency not to relent in its efforts in providing support to the task force.

0 Comments

No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment