Betting operators to demand NIN of customers if proposed Bill is passed

The National Lottery Regulatory Commission (NLRC) has been ordered by the house of representatives to make obtaining a national identity number (NIN) mandatory for all Nigerian gaming companies.

According to the green chamber, this will make it possible for authorities to confirm and recognize users of gaming services.

This suggests that Bet9ja, BetKing, SportyBet, NairaBet, and other gaming platforms in the nation will demand NIN from players before risking if the lower parliament's motion is carried out.

Betting operators to demand NIN of customers if proposed Bill is passed
Betting operators to demand NIN of customers if proposed Bill is passed

Following the passage of a motion presented by Ogun state legislator Ibrahim Isiaka, the green chamber adopted the resolution on Thursday during the plenary session.

While moving his motion, Isiaka said integrating NIN as a requirement for betting will protect the customers and operators in the sector.

“The global gaming market is undoubtedly a huge one estimated to generate between $400 to $500 billion yearly and with the consistency of the current trends, by 2022, it is set to be worth around $565 billion with increasing amounts of revenues coming from online gaming in its many forms,” he said.

“When such large amounts of money are exchanged and transacted quickly through relatively anonymous interactions, there is a significant risk that criminals will be tempted to use the situation for money laundering;

"With age-restricted businesses like casinos and online gaming platforms, the critical barrier to entry for customers is age and identity verification, therefore there is an increased need for such verifications in virtual situations in order to secure both the customers and the operators.

“One of the basic purposes of the national identity Number is for identification, as it not only serves to identify the individual holder but also curbs duplication of identities.

“It is imperative for regulators to place a premium on data security of gamers and gaming operators and one readily available way to achieve this is to integrate the National identity Numbers (NIN) into the data collection of both new and existing customers.”

The motion was unanimously adopted when it was put to voice vote by Femi Gbajabiamila, speaker of the house.

©Standard Gazette, 2021. Unauthorized use and/or duplication of this material without express and written permission from this site’s publisher is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Standard Gazette with appropriate and specific direction to the original content.
Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Translate »