Nigeria’s lottery industry records N30bn monthly transactions, says Give‘n’Take CEO
The CEO of Give and Take Lottery Limited, Jolly Enabulele has said that Nigeria’s developing lottery industry presently records about N30 billion in monthly transactions.
Enabulele who is expanding his operation to Lagos to tap into the market said he believed that lottery firms are well placed to assist many people and the society out of poverty.
The company CEO who was speaking at the unveiling of his office in Lagos said that like in Western world, lottery firms help in good causes of the society as he promised that “at Give ‘n’ Take, we are very passionate about giving back to the society by engaging in good causes as part of its CSR”.
Jolly Enabulele further said that the company is committed to transparent lottery draws in which the general public and players, have the right of participation in a live draw studio.
In the recent time, Nigerians especially the youth are showing growing interest in this game of chance known as Lottery largely driven by the enactment of Nigeria Lottery Act of 2005 and desire by Nigerians to gain quick money, an interest that must have motivated Give ‘n’ Take to expand its operations to Lagos.
This industry has been expanding in Nigeria with population of about 170 million and the CEO of new entrant in to the Lagos market said Nigerian lottery industry is still at its infancy but its mission in Lagos is to serve potential customers, reward customers and give back to the society.
Adolphus Joe Ekpe, Director General (DG) Nigerian Lottery Regulatory Commission (NLRC), in his remark said, NLRC as a commission has a responsibility to protect both the operators and players, and therefore urged lottery operators in the country to engage in healthy competition in the industry to grow the sector.
According to Ekpe, the NLRC and the Lagos State Lotteries Board (LSLB) has agreed to set up a joint committee to harmonize all conflicting issues in the lottery business. He also commended Give ‘n’ Take for pioneering a Nigerian draw, a feat he described as one of the best in building stakers’ confidence in the industry.
Seun Anibaba, CEO LSLB noted at the event that the board is always ready to collaborate with lottery operators in the state to offer better service to stakers. Anibaba opined that the Lagos State government would always support genuine businesses within the state to grow its potentials.
Give ‘n’ Take Lottery Limited, which was issued an operational license in 2015, currently operates in 25 states of the federation.
Give ‘n’ Take unique feature, the big stake (The jackpot price) which is a weekly draw will be rolled over if a winner does not emerge at any draw, plus a 50 percent of the prize money for the week, which makes the draw bigger. The rollover will continue until a jackpot winner/ winners emerge.
SEYI JOHN SALAU