WORDS ON MARBLE

The FG might be looking at it from the point of revenue generation. This is why there is this back and forth between the federal authorities and the states: because the focus has always been revenue generation. The FG should look beyond revenue generation to the implication of licencing these operators remotely. How do you hope to ensure compliance since these companies do not have a physical presence in Nigeria? What benefit is it to local operators to have competitors who are not dealing with issues of double taxation? Double taxation is a major problem for local operators. It is a major source of profit drain. There is the issue of repatriation of funds for foreign operators who are locally licensed here. Local operators are generating employment. Why would the FG allow some people outside Nigeria who are not generating employment to cash in on the industry? Apart from generating employment for Nigerians the locally licensed operators are paying gaming taxes. Besides direct employment there are other types of employment generated. These people have vendors. 

Bimpe Akingba

Regional Manager Africa, Business Development and Regulatory – Mchezo Limited and immediate Past Executive Secretary of Association of Nigeria Bookmakers