The Nigerian government is rolling out a fresh remote operating permit for offshore licensed operators, enabling companies to provide online gambling services within Nigeria without establishing a local presence.
This permit will empower operators to offer services including casino games, bingo, slots, sports betting, and poker.
The permit will be valid for a period of five years. Operators will be required to pay an initial fee of $100,000 to secure the permit and then an annual fee of $50,000 for the subsequent four years.
The National Lottery Regulatory Commission of Nigeria will set forth the terms and conditions that licensees must adhere to.
Newly licensed operators will be permitted to provide services in Nigeria and promote their offerings within the country through print media or affiliate programs.
The cornerstone of the new system will be a modernized tax collection framework, powered by Sentinal, a product developed by UK fintech firm E-Technologies Global Limited. This will enable payment providers to withhold taxes at the point of transaction and promptly transfer funds to the treasury.
The head of the Nigerian Federal Inland Revenue Service, Muhammad Nami, emphasized the significance of the new system in boosting tax income, particularly as global governments are prioritizing this.
“The world is facing a difficult time, and governments have a strong duty to increase tax revenue as a proportion of GDP to ensure the resources needed for local infrastructure and public services.”
“Nigeria must innovate and utilize technology to ensure that online transactions are taxed and accounted for.”
“We are impressed with the Sentinal system, which not only enables us to collect taxes at the source but also provides us with real-time tax reporting and monitoring tools. The system will be integrated with our own TaxPro Max portal.”
Lanre Gbajabiamila, the leader of the National Lottery Regulatory Commission of Nigeria, stated that the country would welcome any foreign operators that pass through its evaluation process.
“Online gaming in Nigeria, particularly on mobile devices, continues to grow rapidly, and the adoption of E-Technologies’ Sentinal National Payment Gateway is a significant step in allowing us to collect gaming taxes at the source,” he stated.
“We welcome all responsible foreign gaming operators to apply for remote operator licenses, as long as they meet all relevant standards, including comprehensive anti-money laundering screening and responsible gaming practices.”
Nigeria stands as the pioneering nation in embracing the Sentinal system, and we are confident it will deliver substantial national advantages,” declared David Kix, the head of E-Technologies. He asserted that the agreement marks a significant stride for authorities to expand their reach and curtail illicit activities.
“This groundbreaking pact will usher in a new chapter, swiftly paving the way for regulated markets for reputable gambling enterprises, as underground operations grow increasingly troublesome,” he stated.
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