NLA presents GH¢10m dividend to government

The National Lottery Authority (NLA) has presented a GH¢10 million cheque to the Consolidated Fund, marking its first such payment to government since 2017.

The payment follows a series of reforms being implemented by the Authority to improve revenue mobilisation, strengthen oversight of lottery operations and increase the state’s returns from the sector.

Presenting the cheque, Director-General of the NLA, Mohammed Abdul-Salam, said the payment demonstrates that the reforms undertaken by the Authority are beginning to yield results.

“This is more than a transfer of funds. It is evidence that the reforms we committed to are beginning to work and a promise of what is still to come,” he said.

Mohammed Abdul-Salam said the NLA is reviewing its commercial arrangements with private operators to ensure that revenue-sharing structures better reflect international best practice and the state’s position as the owner and regulator of the lottery.

He said the Authority is also moving towards an open and competitive licensing framework that will end exclusivity, attract more credible operators and widen its revenue base.

The NLA is further introducing independent real-time revenue monitoring across its licensing channels to improve transparency and accountability.

“We are introducing independent real-time revenue monitoring across all licensing channels so that every cedi staked is visible, verifiable and accounted for,” Mohammed Abdul-Salam stated.

According to him, the reforms are also expected to create new revenue streams for the Authority.

He disclosed that the NLA, in partnership with the Ghana Sports Fund, is preparing to introduce the Sports Fund Lotto, a dedicated daily draw intended to support sports development while contributing to national development.

Mohammed Abdul-Salam described the GH¢10 million payment as an early indication of the impact of the reforms, stressing that the Authority expects its contribution to government revenue to increase as the measures mature.

“As these reforms mature, I assure you that the Authority’s contributions to the national purse will grow significantly in a manner that is transparent, sustainable and defensible,” he added.

He added that the NLA’s objective is to establish a stronger governance framework capable of delivering greater value to the state from the lottery sector.

Speaking after the presentation ceremony, Finance Minister Dr. Cassiel Ato Forson welcomed the dividend payment.

He also indicated plans help ensure that all revenues due the National Lottery Authority are properly accounted for and received by the state including working with the Attorney General’s office.

“I am particularly happy to note that National Lottery is back. I want to reiterate the point that as Sector Minister I will work with yourselves to review those agreements that has taken the resources that belongs to the state.

“Working with Attorney General this month, October will finalize those agreements. I believe the national lotteries deserve better than what you are getting. The revenue has been ceded unreasonably to the other entity as against the government and we believe that that needs to be corrected,” Dr. Ato Forson emphasized.

Source: Citi Business News