: N500,000 licence fee and a lottery levy of N25,000 be it drawn daily, weekly, or monthly.
The new bill also proposed that an applicant must have a local content shareholder with a 15 per cent minimum shareholding in the company. “Currently, the federal government and all states’ government are collecting license fees and monthly taxes from operators and this act is gradually crippling the industry,” Adebimpe Akingba, the executive secretary of the Association of Nigerian Bookmakers , said in an e-mailed response.
“The N20 million share capital is actually not of utmost concern as there are other sections in the proposed bill, which if passed as it were, is capable of wrecking the industry,” Mrs Akingba continued.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: