Reps probe Lottery Trust Fund for spending IGR

After squandering all of its internally generated revenue, the National Lottery Trust Fund was placed under status inquiry by the House of Representatives Committee on Finance on Monday.

The committee will thus designate an outside auditor to look into the accounts, and a report is anticipated in due course to allow the House to take additional legislative action.

The Office of the Accountant General and the Fiscal Responsibility Commission were also tasked with investigating the fund and reporting back to the Committee by the Committee’s chairman, James Faleke, a member of the All Progressives Congress who represents Lagos State’s Ikeja Federal Constituency.

The resolutions came about as a result of Bello Maigari, the Fund’s executive secretary and chief executive officer, participating in an interactive meeting with Ministries, Departments, and Agencies on the 2024–2026 Medium Term Expenditure Framework and Fiscal Strategy Paper on Monday.

Although Mr. Bello notes that the full amount was used to carry out numerous projects throughout the nation, he claims the fund brought in N2.5 billion in 2023.

He claimed that license and permission holders’ statutory remittances were the source of the funds.

Similar to 2023, Bello claims that the N6.8 billion the fund earned in 2022 was used to carry out initiatives.

Mr. Bello went on to say that the Fund had a rollover of liabilities in 2021, which resulted in spending and a N255 million deficit in 2022.

In an apparent attempt to get the legislators’ pity, the National Lottery claimed that the N6.2 billion it made in 2022 was used for vital sectors initiatives such public welfare, sports development, education, and disaster relief.

On the other hand, he startled the Committee when he informed the lawmakers that the fund was supposed to cover staff salaries and allowances in addition to the emoluments, benefits, and allowances of board members.

Faleke replied, “It seems as though the government has opened this agency for you and your family.” You are stating just that. That’s the implication. You made approximately N2.5 billion, of which you used to purchase the final kobo. Using a single source, you produced N2, 492, 996, 588.13 and subsequently used the same amount.

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We intend to conduct a status inquiry regarding the Nigerian Lottery Trust Fund. Status inquiry denotes that we will schedule an outside auditor to review your books, accounts, revenue, and out-of-pocket costs from the beginning to the end. If you are found guilty, we will submit our findings to the full assembly and you will be required to reimburse all costs and any additional sanctions incurred,” he stated.

Faleke stated that since the fund received all of its funding from the Federal Government, it was required by law to submit 100% of its IGR.

“You were expected to remit that over N3 billion in 2022, as is expected of a fully funded government agency, and as you generated over N3 billion in that year,” the speaker stated.